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Nov

7

Payday lenders, casino operators and adult entertainment


I am really confused.

Some Ohioans are upset that payday lenders are shutting down, while others are upset about casinos not opening and, just last year, many of our state legislators went like lemmings for ignoring home rule in order to also shutdown the adult entertainment industry in 2007.

The payday lenders involves job loss, the casinos issue purportedly involves job creation, and the adult entertainment matter also involves job loss.

What’s the one commonality?

All three industries make money off of people who are most vulnerable to financial ruin.

So why the different treatment?  Why?  And where is Phil Burress’s effort to get the people about whom he was so worried new jobs?  Maybe he could do the same thing for the payday lenders who are going out of business and the people who have no jobs who are waiting to get one at an Ohio casino some day – because they’re going to have to wait a long time.

I’m not going anywhere.

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By Jill Miller Zimon at 10:55 am November 7th, 2008 in Business, Cleveland+, Economy, Ethics, Gambling, Government, Law, Ohio, Politics, Social Issues, Voting, conservatives 

Comments

8 Responses to “Payday lenders, casino operators and adult entertainment”

  1. 1 Rich in Medina on November 7th, 2008 11:09 am

    This is kinda like Pro-Lifers being Pro Death Penalty…right?

  2. 2 Jill Miller Zimon on November 7th, 2008 11:12 am

    Hmm – maybe that’s it – do you see it that way? Something’s just very much not consistent, do you know what I mean? Yes, it might be like that.

    What IS the basis for that position btw, to be pro-life but also pro-death penalty? I’ve not looked at that too much.

  3. 3 oengus on November 7th, 2008 12:11 pm

    Yes we should have big complexes that loan people money at 300% to get in then have all kinds of gaming and games of chance, surrounded by naked people dancing…a sort of Disney World for adults. Then it could be surrounded with pawn shops as well, sell your stuff to get in…It could have an arena for wrestling and gladiator type competitions, then surround it with big NASCAR track and monster truck pulls, and bull fight and rodeos!

    They could have shows like bug eating competitions, all you can eat restaurants and all you can drink, charge people based on their weight.

    Its industry, why not?

  4. 4 Carole Cohen on November 7th, 2008 12:45 pm

    I have no problem with casinos or pay day lenders although the limit to the interest rates made sense to me. I also think the oldest profession in the world (or so they say) should be legalized too. Not sure why we should be dictating how anyone, regardless of their income level, spends their money. We have enough issues to worry about.

    Just my 25 cents…(inflation, don’t ya know lol)

  5. 5 Erica on November 7th, 2008 3:14 pm

    I’m far more anti-payday-lender than anti-casino (although they’re both fairly predatory). I never expected “job loss” to be the biggest objection to their closure, though. Bizarre.

  6. 6 Rich in Medina on November 7th, 2008 4:26 pm

    The pro-lifers would tell you “innocent life” versus the contrary, I think. Everyone can rationalize their opinions and actions, regardless of the obvious inconsistencies.

  7. 7 Carole Cohen on November 7th, 2008 4:48 pm

    my personal view? we can’t legislate addictions, especially when alcohol is legal. People, poor, rich or otherwise, are addicted to shopping. Seriously. Are we to ban shopping malls? I really don’t see the issue. How do I fit into the discussion btw, I can’t decide lol I’m anti-death penalty and pro choice which I suppose might be seen as an inconsistency. I guess it is !

  8. 8 Jason Sonenshein on November 9th, 2008 3:45 pm

    “All three industries make money off of people who are most vulnerable to financial ruin.”

    This is not true, at least in the case of casinos. According to Harrah’s Profile of the American Casino Gambler, casino gamblers were more likely than non-gamblers to save for retirement and to put money aside for the future. Gamblers were also more likely than non-gamblers to be in control of their spending and to borrow only when necessary. Retired gamblers were more likely than retired non-gamblers to be able to count on income from their savings and investments. So, actually, casinos make money off of people who are least vulnerable to financial ruin.

    “I’m far more anti-payday-lender than anti-casino (although they’re both fairly predatory).

    Not really. The $15 fee on a $100 payday loan is less than a bank’s overdraft fee, less than a credit card late fee, and less than a utility re-connection fee. That doesn’t seem very predatory to me.

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