One of the things I’ve noted at casinos– much more at off-track betting parlors– is that smell of desperation, combined with the firm faith that the big score is just around the corner– or at least big enough to stave off disaster and allow for one more spin of the wheel.
But apparently, there’s enough demand in Vegas that it makes sense to advertise for this place on TV, a joint called Dollar Loan Center.
They loan you money at 7.5% weekly. Not annually, not monthly. Weekly. How bad is that? The disclaimer at the end of their site reads: “Although our loans are not set up on an annual basis, the federal government requires us to tell you that if you did keep this loan out for an entire year, your annual percentage rate would be 392%.” Oh, and for customers without an open checking account, the interest rate may be higher.
And people wonder how poverty is perpetuated sometimes.
Go and check out their website at the inappropriately named dontgobroke.com. No, they aren’t getting a link.