Bob Plain is the editor/publisher of Rhode Island's Future. Previously, he's worked as a reporter for several different news organizations both in Rhode Island and across the country.

4 responses to “Why payday loan reform didn’t pass: Bill Murphy”

  1. leftyrite

    “Margaux Morisseau, who has led the unsuccessful yet good-intentioned fight…”
    Why stop with Margaux (great name, incidentally)?  Couldn’t you say the same thing about our remarkable senator, Sheldon Whitehouse?
    While our virtual Rome virtually burns, we, as progressives, continue to virtually protest.
    President Obama, for all of his many faults, did prove to our nation, at least when he was a candidate, that narrative matters, that words matter, that ideas matter.
    Congratulations to Margaux for having the heart (cour-age) and the conscience to take on this important issue.
    Which, it turns out, is not a policy issue, but rather, a political question to resolved by organizing the public behind a person who, through force both narrative and political, will successfully promulgate something better than the moneychangers and their agents currently have on offer.
    Wasn’t Gina quoted recently for promoting the notion of interest rates as high as thirty-six percent(!!??)…but no higher??
    We don’t like breakout personalities because we have been conditioned to fear them, many times for good reason.
    But we certainly need somebody bigger than the hummel figurines of this sorry time and state.
     
     

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  2. davidc

    I don’t understand this at all.  You demonize a lobbyist and give a pass to the people with actual influence over legislation and creating law? 

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  3. Craig OConnor

    Bill Murphy didn’t kill the legislation. He is guilty of convincing the people in power to kill it. that means the real blame lies with Speaker Gordon Fox and Senate President Paiva-Weed. Murphy has influence, but the actual ability to stop legislation – or conversely, to get it passed – still resides in the hands of those who are elected. We need to stop pretending our Democratic leadership are actually real Democrats. While they did pass some good stuff this (child care workers can organize, TDI for care givers), overall these Democrats are a far cry from what Progressives would hope them to be.

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  4. DanielSmith

    Has anybody complained about these cash loan companies getting bailed out by the taxpayer then using the bailout to pay mega bonuses to the upper management? No, the government and banking industry want to make it harder for those who depend on the occassional payday loans to get through any rough patches that come along. This so-called watchdog agency created by Obama should concentrate on the big banks like BofA, JP Morgan-Chase, and Wells Fargo. these companies are trying to foreclose on loans that have been renegotiated through federal programs. Thousands of people are losing their homes because of these companies not keeping track of payments made to their subsidaries which more than a few have gone belly-up and misfiling of paperwork. These mistakes are costing the homeowner billions on top of their homes. Obama’s watchdog should be looking into these breaches of contracts instead of the payday loan industry.

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