With The Recent Industry Losses One
Searches For An Answer To The Question: "BUT WHY?"
November 10, 2008
No one can say November has been a good month for our
industry so far. Ever wonder what motivates the relentless assaults
against our industry?
WHAT HAPPENED?
First, let's give credit to the other side. They
were quite creative (and successful). Click on
the No 200 image to see what they were able to do in Arizona with probably less
than five percent of what the industry spent.
Creative? Yes!
Effective? Yes!
The vote: FOR - 40%.
AGAINST - 60%
We think there is much, much more to the story than
meets the eye. Read these
recent stories and then you decide:
As you read these quite recent stories notice the
press "tone" of
the articles. There are no loan sharks or 1000% interest in any of
the stories above even though they all offer products
that approach traditional industry rates. Notice, in
particular, the California story from the New York Times. The
check cashier was "redeemed" after being purchased by the credit
union. These are all just stories about helping those
in need
("doing good"). Do you get the picture?
WHAT IS NEXT (The CRL Playbook)?
After the highly effective anti-industry campaigns in Ohio and
Arizona, you can expect a much more intense effort around the
country in the future!
Just remember "the playbook" and remember that it unfolds over
months and years, not days and weeks.
This is how it works:
-
Relentlessly bash the industry in the press under
the guise of "social, feel good" causes (here
&
here).
-
Link with like minded local adversaries and advocacy
groups for "boots on the ground" at the grass roots level (here
& here).
-
Kill the industry dead through legislation or
regulation (here,
here,
here &
here).
-
Move in with your new short term lending business
(stories above &
here).
