The Instant Payday Loans Rant

The Instant Payday Loans rant Cash loans in the UK should be left alone So there’s a summit going on about the businesses that give instant cash loans in the UK. There are banks, parliament and other government officials, lenders, and even charities getting together to discuss instant payday loans.

These businesses have been under fire for the past few years, but the fact that the news has said a few towns have banned many a website for instant payday loans on their public computers (library computers and other public building computers) have demanded that this industry be under the magnifying glass by the government.

I, for one, don’t think this is necessary. I’m an advocate, as all my friends know all too well, for an open market. Too many regulations have gotten us into this financial debacle that we’re drowning in the middle of. And more regulations and bans on sites like Instant-PayDayLoans.co.uk are just the kind of thing that’s going to make it worse.

Free markets work themselves out. These businesses do a service to its citizens and make money off it.

That’s what grocery stores do, dentists, doctors, lawyers, your local dog walker.

And you know what? Banks make even more money. Barclays is one of the richest banks in the world!

Let’s take a look at what they’re doing too. Just because these instant payday loans businesses make a buck or two doesn’t mean we should ban them.

Don’t treat people like they’re dumb. People know what they’re getting themselves into. They know the rates, and they plan on paying them back. Most of them will. A few won’t. That’s exactly how the Bank of England works.

Lay off these payday companies. Unless next, you want to put little Suzie’s lemonade stand on trial next.