Payday loans: worth lobbying for
Corey Hutchins of Columbia, South Carolina’s Free Times seems to have a problem with lobbying a political cause, of which payday loans has been of late in his home state. In equating lobbying with prostitution and it’s “hideous” implications (gasp!), Hutchins saps himself of credibility.
Honestly, doesn’t everyone understand by now that lobbying is necessary in the American system of government as it stands? It is not only necessary, but advisable. Every single cause, from cash advance loans to reproductive rights to equal pay, has groups throwing around money to push their position to the top of the heap. Everyone does it, and it’s naive to say that your cause will remain “clean” and “untainted.” It’s also unwise.
Mr. Hutchins, you must be joking
Yes, South Carolina politicians allegedly received money from the pro-payday loan lobby. But let’s turn this around. You don’t think that politicians also have been lobbied by the anti-payday loan lobby? I imagine groups like the Center For Responsible Lending have money stashed away somewhere…
“We’ll never know [how much money the industry spent],” says Sue Berkowitz of the South Carolina Appleseed Legal Justice Center. The horror…
They’ve… brought… backup…
Hutchins’ pulse quickens and his breathing becomes hard as he recounts the “big guns” the payday loan industry is relying upon:
Pushed out of North Carolina and Georgia, and under attack in several other states as well, the industry has hired big-time Columbia lobbyists from both political parties. Also, for the past week, former Democratic gubernatorial candidate and state Sen. Tommy Moore, who works for a payday lending trade group near Washington, D.C., has been in town working his former colleagues.
I believe it’s safe to assume that Hutchins agrees with Rep. Alan Clemmons, who calls the cash advance business “financial slavery.” Yet as he puts it, “lenders say they are merely meeting a need for short-term credit that mainstream financial institutions do not provide.” Here Corey, I have some info on unbanked and underbanked consumers I’d like to show you.
“Wait, Corey!”
Any lobbyist group worth its salt will work hard for what they believe in. Corey Hutchins believes that payday loans are Dracula, Cash Advance Mojo believes they can help people in a jam when used responsibly. His argument reminds me of one of my favorite “Far Side” cartoons. Two simple, slack-jawed young men are seated at a breakfast table, prepared to enjoy their cereal. But then something goes horribly wrong. “Wait Corey!” says one to the other. “First cereal, then milk!” Lobbying puts cereal in the bowl first.
Lobbying is like paying taxes – you know how evil it is, but you also understand the necessity of it. However, there is obviously a line between lobbying and bribery in all but name, and I think we all saw that with Jack Abramoff, Duke Cunningham, and Ted Stevens, and a host of other examples, but there is good that comes from lobbying.