There are basically two dimensions to the financial crisis. One is the way finance has evolved into a gambling operation that’s fundamentally risky and fails to contribute to the real economy. The other is plain, old-fashioned greed – the kind that exploits the weak and vulnerable in a shameful manner, the kind that depends on political patronage to survive, the kind that used to be called pure, Old School, straight-up Biblical-style evil.
Well, evil came to Washington last week, in the form of executives from the “payday loan” industry – and from all reports it was very politely received.
