Democrat Giving Boost To Payday Lenders

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Опубликовано 20 ноября 2017, 1:30
Democratic Senator Mark Warner is cool with exploiting the poor. Cenk Uygur and Ana Kasparian, the hosts of The Young Turks, break it down. Tell us what you think in the comment section below. Join TYT: goo.gl/v8E64M

“A little over a year ago, Sen. Mark Warner (D-Va.) addressed a small audience of political insiders at the Brookings Institution, one of the most prestigious think tanks in the nation’s capital. Times were changing, Warner told the crowd, and the old guard from Washington and Wall Street wasn’t keeping up with the needs of the modern workforce. The gig economy, outsourcing and automation had created an era of unprecedented “income volatility” for Americans. New financial technology firms had “an opportunity to bridge part of that new social contract,” to “lean forward and meet workers where they’re working.”

It had been a long day for the Virginia Democrat. A dental appointment had unexpectedly turned into a three-hour ordeal, and he’d arrived at the conference a little “cotton-mouthed,” as he put it. When he veered into a discussion about “a much more aggressive way to upscale people” through “an enormous number of intersection points,” including “your relationship with that FinTech provider,” it wasn’t obvious exactly what Warner was after.

But the big picture was clear enough. The government needed to “encourage innovation.” Entrepreneurs had to be thinking about a “portable benefits system,” about emergency funding to help people meet unexpected expenses. It was time to get past the same old debates about government and regulation. This was about change. It was about progress. Warner had seen the future.

A year later, that tomorrow has arrived. And the grand financial technology breakthrough, it turns out, is to help payday lenders sidestep basic consumer protection laws.”

Read more here: huffingtonpost.com/entry/payday-lenders-...

Hosts: Cenk Uygur, Ana Kasparian

Cast: Cenk Uygur, Ana Kasparian

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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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