Jump to content
House Price Crash Forum

Boris Johnson Does Deal With Wonga.


Recommended Posts

Good God - he's either supporting the Banksters or doing deals with the likes of Wonga. If I was a protester, he'd be the first on my list, the toad.

But he's got fluffy hair and rides a bike! You don't say that his affected nice-but-dim manner is some sort of technique to divert from an aristocratic right-wing agenda. Perish the thought.

(Mind you, given the choice between Boris Johnson and Ken Livingstone, I'd have to say: Leave London)

Link to post
Share on other sites

Missed this at the time. Boris Johnson needs to resign. Now.

http://www.guardian.co.uk/politics/2010/dec/21/boris-johndon-advertising-deal-wonga-com

Why? If anyone else posts anything about companies like wonga charging over 2000% Apr, I'm going to scream.

These companies offer TINY short term loans over a month or so - annual percentage rates are almost totally irrelevant to this type of product and shouldn't be compared to loans with terms of 3 years for example.

After administration, wages, advertising costs and risk of defaulting etc does anyone think it would be worth lending someone £100 over a month at a credit card rate of say 12% APR or so? earning a whopping £1 on the transaction?

Legal loan sharks ! FFS! total oxymoron.

Edited by Reck B
Link to post
Share on other sites

ReckB is correct, these are legitimate short term loan companies that comply with FSA guidelines.

I don't see what the fuss is about.

Exactly.

What's the APR if I lend you a tenner, but expect £11 back tomorrow for my risk?

Link to post
Share on other sites

Legitimate in the sense of course that the state allows them to be so!!

State and bankers scratching each others banks again!!

We didn't need these payday loan Company's 10 or so years ago why do we need them now?

Yet another example of the state allowing a section of the Banking industry to exploit poor and vulnerable persons.

Link to post
Share on other sites

Legitimate in the sense of course that the state allows them to be so!!

State and bankers scratching each others banks again!!

We didn't need these payday loan Company's 10 or so years ago why do we need them now?

Yet another example of the state allowing a section of the Banking industry to exploit poor and vulnerable persons.

Yes, Pawn shops are a new invention, not a regular feature of high streets down the ages..

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.