Tuesday, October 28, 2008

Some Get Bailouts, Some Get This

Anger at 222% Christmas credit card

"Major high-street retailers are targeting poor families with bad credit records to prop up their Christmas sales during the credit crisis.

Dozens of high street stores are taking part in a doorstep lending scheme which charges poor families extreme rates of interest. Woolworths, Comet, B&Q and Mothercare and 92 other retailers have been accepting vouchers that are repaid by borrowers at an annual percentage rate of 222 per cent – more than 10 times the rate of a credit card."

And speaking of the recent swindle bailout:

10% of bailout goes to pay and bonuses

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