Detailed text transcripts for TV channel - MSNBC - 20100701:22:57:00
The payday loan was invented in 1993 and now less than 20 years later, there are as many payday loan shops as there are mcdonald's, burger kings, instant tax mills. a long list of businesses. a lot of creative energy being put into the poverty industry because there's so much money to be made. >> you talk about in the book that was place where this sort of thing is going on, i hadn't thought about are the tax mills. a lot of tax preparation places are essentially functioning now as payday lenders. >> right. there's a certain brilliance to this business. once a year where the working poor feel ...
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