Reply to: Which is worse - Islam or Wonga?

[xoggoth]

Reading an interesting history of the Spanish terror. According to that view the relative stability of the middle ages was ruined by the acceptability of interest which had previously been barred or frowned upon as the Jewish device of usury. In the middle ages economies were based almost entirely on agriculture and most societies, while very hierarchical, were self contained and and essentially reactive, doing just enough to feed and defend themselves. Borrowing allowed rulers to gamble and financed ventures they could otherwise not afford, to confront, invade and colonise others and caused a huge rise in conflicts.

It would be a very sound economic principle - if you can't afford to do something, don't do it. Maybe the Islamic ban on interest makes sense. (or would do if Shariah banking was not just interest by another name - anything that allows the lender to make money solely from the lending is interest, whatever you like to call it)

[EternalOptimist]

I dont know if anyone said this ^^
I dont have time to read all the pages, but there are legal organisations and illegal ones, nice ones and not so nice ones.

There is a line that divides them and the ones close to that line are bound to be contriversial, like wonga.

if we redraw the line, it would be someone else turn to cause outrage

North Western bookbinders outrage at Watford fc sponsorship deal with kindle or summat

[d000hg]

The service that wonga gives has a great deal of moral virtue. It is the fact that they have decriminalised money lending just as decriminalising drug sales would take the criminals out of the industry. Likewise prostitution. The pious self righteous (you know who you are) ars*holes who pretend that they know what is good for everyone else

That's beautiful DA. You spend virtually all of your time on CUK doing that... in fact in this very post you claim to know what is best! I hope it's deliberately hypocritical

but drug taking money borrowing and prostitution are facts of life.

So are murder, rape, pedophilia, wife-beating, and common violence after closing time every weekend.

Wonga is giving people access to lending that removes the need to use loan sharks. If they cant pay the loans back then they are allowed to come to an arrangement that is within the law. If they pay them back they build up their credit ratings and are able then to borrow more.

These people should be congratulated not villified.

On that score, I actually agree - I don't think these are 'evil companies'.

[speling bee]

This is a benefit of regulation. Skunk and super-skunk etc. are no more harmful per se than other forms of cannabis. They have a higher concentration of THC and users then inhale more THC. Regulation can limit the concentration of THC and set a minimum price. Regulation could control outlets and prevent marketing. Think Norwegian state offies if they still have them.

Bolloxs the evidence is against you

I think the paper is saying what I am. That the problem is higher concentrations of THC.

This leads me to suggest that regulation could control the concentration of THC. Do you read it differently?

[doodab]

The Headlines we would like to hear

LATEST - WONGA AGREES TO LEND GREECE 1 BILLION TO SAVE THE EURO

They need a lot more than that

[Brussels Slumdog]

Wonga bails out Greece

The Headlines we would like to hear

LATEST - WONGA AGREES TO LEND GREECE 1 BILLION TO SAVE THE EURO

[Troll]

This is a benefit of regulation. Skunk and super-skunk etc. are no more harmful per se than other forms of cannabis.

Bolloxs the evidence is against you

[speling bee]

Presumably then you are OK with suppliers rushing to create ever more potent versions of their products i.e. a more psychotic version of skunk; and bringing to bear a fully legal and now industrialised manufacturing / distribution network to ensure maximum market share - would adverts on the local TV / Radio be OK?

Given the problems with trying to prevent kids taking up smoking what if any checks would you put in place to prevent the little mites getting hold of a (now) legally allowed substances?

This is a benefit of regulation. Skunk and super-skunk etc. are no more harmful per se than other forms of cannabis. They have a higher concentration of THC and users then inhale more THC. Regulation can limit the concentration of THC and set a minimum price. Regulation could control outlets and prevent marketing. Think Norwegian state offies if they still have them.

[speling bee]

Actually i was re-boomed this morning - 6 month extension.

More proof that you are an ignorant old fart.

Do you mean 'proof' or 'evidence'?

[Mich the Tester]

I am assuming that's a compliment to his testing ability - that he tests things to the lowest possible level.

Yeah, I automate tulip like that.

[NorthWestPerm2Contr]

Yeah. but you're a tester. so every £0.0000000001 matters.

I am assuming that's a compliment to his testing ability - that he tests things to the lowest possible level.

[blacjac]

yes

Yeah. but you're a tester. so every £0.0000000001 matters.

[BrilloPad]

The thread title seems to imply that Wonga and Islam are wrong. I have nothing against either - though I despise football.

[Mich the Tester]

If I lent you 20 quid and you paid me back 25 quid 1 month later, is that extortionate?

yes

[blacjac]

I blame the government

The hatred and vilification of companies like Wonga all stems from the fact that the government forces them to display an ANNUAL interest rate for a 1 month loan.

If I lent you 20 quid and you paid me back 25 quid 1 month later, is that extortionate?

its an APR of 1355.2%

ref: Loan APR Calculator. Calculate APR from loan amount, repayments and term