Wonga, The Mask Slips...

[sandyRoe]

Own them a few bob and they'll set the bailiffs on to you. It's a pity that usury isn't a criminal offence. Was it ever?

http://uk.finance.yahoo.com/news/wonga-tougher-bad-debtors-112706758.html

[AB Editor]

"It's a pity that usury isn't a criminal offence."

Made me think of Ezra, http://www.poetryfoundation.org/poem/241052

Canto XLV
BY EZRA POUND
With Usura

With usura hath no man a house of good stone
each block cut smooth and well fitting
that design might cover their face,
with usura
hath no man a painted paradise on his church wall
harpes et luz
or where virgin receiveth message
and halo projects from incision,
with usura
seeth no man Gonzaga his heirs and his concubines
no picture is made to endure nor to live with
but it is made to sell and sell quickly
with usura, sin against nature,
is thy bread ever more of stale rags
is thy bread dry as paper,
with no mountain wheat, no strong flour
with usura the line grows thick
with usura is no clear demarcation
and no man can find site for his dwelling.
Stonecutter is kept from his tone
weaver is kept from his loom
WITH USURA
wool comes not to market
sheep bringeth no gain with usura
Usura is a murrain, usura
blunteth the needle in the maid’s hand
and stoppeth the spinner’s cunning. Pietro Lombardo
came not by usura
Duccio came not by usura
nor Pier della Francesca; Zuan Bellin’ not by usura
nor was ‘La Calunnia’ painted.
Came not by usura Angelico; came not Ambrogio Praedis,
Came no church of cut stone signed: Adamo me fecit.
Not by usura St. Trophime
Not by usura Saint Hilaire,
Usura rusteth the chisel
It rusteth the craft and the craftsman
It gnaweth the thread in the loom
None learneth to weave gold in her pattern;
Azure hath a canker by usura; cramoisi is unbroidered
Emerald findeth no Memling
Usura slayeth the child in the womb
It stayeth the young man’s courting
It hath brought palsey to bed, lyeth
between the young bride and her bridegroom
CONTRA NATURAM
They have brought whores for Eleusis
Corpses are set to banquet
at behest of usura.


N.B. Usury: A charge for the use of purchasing power, levied without regard to production; often without regard to the possibilities of production. (Hence the failure of the Medici bank.)

[DTCwordfan]

Did anyone hear their MD being grilled by the HoC Select Committee? - what arrogance and self-conceit came out of the man, not a bite of humility in him, the very worst of this Temple-sinner industry being portrayed. The Select Committee are going to grill the FSA and others before shaping recommendations and action to being better regulation on these parasites.

Couldn't happen a moment too soon.

Well done to the Coalition for dumping on them, something that the Labour Party ought to have done as being the natural defendant of the working classes, but never did.

[emmie]

Dt, they are remiss aren't they...

[DTCwordfan]

I don't think I have ever heard such arrogance in front of a House committee, em.....an old boss of mine went in front of one and said it was a horrendous experience and certainly not the forum for manifesting such attitudes as they would shred you, if not there, then later.

[emmie]

as i mentioned i took a loan out with the bank, never ever again, shylock has nothing on these guys.

[sandyRoe]

Funny how things sometimes work out. I post about Shylock moneylenders and end up reading a poem by Pound, who I've heard of but never read, and will now.

[shoota]

I'd lend you a Pound Sandy, if I had one....

[Mamyalynne]

I haven't read Pound for years Sandy - definitely worth a revisit.

[sandyRoe]

But whats the APR you'd be charging, Shoota?

[DTCwordfan]

Looking at shoota's current avatar, he is definitely part of the black economy.......

[Eve]

Anyone with a legal debt that is capable of getting a CCJ entered can apply for a warrant to use bailiffs to recoup monies.

Many businesses use debt collectors as a part of commercial life too, although I think there should be some better regulation to stop those who just harass people in an unreasonable manner.

It's a desperate solution for desperate (or naive) people. I doubt you would go to somewhere like that if there were other (legitimate) options.

There should be more regulation for loan companies.

[sandyRoe]

Next time I'm in the library I'll look and see if I can borrow some of his stuff, Mamya

[bibblebub]

Just in passing... as if Wonga customers didn't have enough worries they now have phishing emails to deal with - It is thought Wonga customers could be rich pickings for criminals as they might be less familiar with the typical phishing emails that plague traditional online banking customers

http://www.guardian.co.uk/money/2013/jan/18/wonga-customers-phishing-emails

[sandyRoe]

Have Wonga sold the e-mail addresses and other details of their clients? Talk about wringing the last drop out of their poor customers.

[AB Editor]

" I post about Shylock moneylenders and end up reading a poem by Pound, who I've heard of but never read, and will now."

Good :) - When Pound is on form he's really superb, but he does wander off and become a bit of a fascist economist on occasion.

"I haven't read Pound for years Sandy - definitely worth a revisit."

I revisit The Cantos often, because, despite my better judgement, I am certain I could understand it all one day.

[seadogg]

Man is born free
But everywhere he is in debt.

Apols. to J.J.R.