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gruffydd

Boris Johnson Does Deal With Wonga.

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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)

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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

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Legal loan sharks ! FFS! total oxymoron.

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

I don't see what the fuss is about.

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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?

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Exactly.

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

128330558031335269.68%

I think that is right, but I may have used a few too many significant figures.

It kind of highlights how APR is completely unintuitive.

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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.

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

You're saying throughout history no-one has needed to borrow money for a short-term ?

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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..

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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