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Can You Buy Laws In America?
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Can You Buy Laws In America?

I get asked at least once a day why our government does not do anything to regulate the payday loan industry in this country. It seems to have run wild with the amounts these companies charge and their general business practices. I answer this question with a question, Can you buy laws in America?

What is the meaning of that?

It is a simple question with a simple, but dangerous answer, and it is unfortunate that our government operates this way. Let me explain how special interest money can completely control the outcome of what laws end up on the books.

A Seattle based payday loan company was loosing loans because of the payday loan reform laws that were passed in 2010. This company went from writing 3.2 million loans in 2009 to 856,000 in 2011.

So far this sounds good for the consumer.

This is where it goes south. In the 2012 elections, this company needed people in office that would agree with the creation of bill 5312, which this companies lobbyists helped co write. This bill would create a new high interest consumer loan law with many perks to make it extremely profitable to the loan companies.

The loan company decided to invest in the campaigns of several hopeful lawmakers who would be voting on this new bill.

$200,000 went to the Republican party, and selected Republicans received various amounts of contributions form the members of this company. One senator received 11,200.00 and won the election. Another received 26,800 and also won. Getting the picture?

This is how it works?

This is how money can make the outcome of a bad idea turn into a reality. It is unfortunate that our government is susceptible to this kind of behavior but that is the reality of it in a nut shell. Can you buy laws in America? Yes you can, and it is all legal!

What we as a people need to do is start seriously working on a complete reform of how our government does business, and who can have outside influence on the outcome of our creation of bills and laws.

This is a serious problem and I do not see a fix coming soon, unless the people really start to stand up and demand change, and that is just not happening today.

More and more people are doing just the opposite, they are diving in head first before checking how deep the water is.

Hopefully we can fight back by learning all we can about who we do business with, and then make a conscious choice on whether we approve of their methods before we use these companies. When people realize they are running out of choices, maybe then we will start taking action.

Please feel free to share this article and leave any questions or comments below!

Street Talk

With enough money, you can buy anything in this country, including laws and politicians. Will we ever again see the day when politicians put the interests of the people ahead of their own re-election and self-interests? Greed is a powerful and destructive thing.

  about 9 years ago

Boy, I really hope that day does show up soon Bill.

  about 9 years ago
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