A License to Steal

While everyone is looking for ways to improve the economic circumstances of ordinary people, we offer up a bit of advice for the North Dakota Legislative Assembly: Lower Consumer Maximum Interest Rates NOW.

A quick study on interest or usury rates indicates that North Dakotans are at a significant financial disadvantage due to state laws allowing financial institutions, credit card companies and same day loan shops to gouge the little people without conscience or accountability.

The ceiling in North Dakota appears to be 35 percent. The reason state lawmakers raised it was to purportedly recruit credit card processing companies like Citibank to North Dakota.

In this day and age whereby taxpayers are asked to bailout financial institutions like Citibank, it seems more than fair that somebody somewhere advocates for the millions upon millions of credit card holders who are held hostage to exorbitant interest rates that give some lenders a license to steal from customers.

Compounding the problems of recent economic downturns nationally and globally, the harsh reality of keeping up with record high interest rates is as or more debilitating to individual consumers and small businesses than anyone can imagine. We suspect this is as integral to the economic downturn as high energy costs.

At least gas and fuel costs have slumped. We wish we could say this for interest rates charged consumers for past debts. Our congressional leaders give big finance conglomerates billions and billions, yet they do not advocate for the consumer, the little guy, the credit card holder.

That needs to change.

Having virtually eliminated usury laws that protect ordinary people, North Dakota’s effort to build our economy is, we believe, more destructive than not. We did not get a Citibank processing plant, but we did give Citibank-types the license to get their hooks into people financially and insidiously.

We call upon our Legislative Assembly to address and to correct this misjudgment of the past. It behooves state leadership to protect the people of the state, and to not deliver them up to financial behemoths who do not necessarily have North Dakota or its people at heart.

Mo News for Men…

You have perhaps noticed that a goodly portion of the male population here at HPR have been sporting some attempt or other at growing staches for the Bros on Broadway fundraiser and event at the HoDo Sunday. We are joining forces to raise money to fight prostate cancer.

Though the idea and exercise of competitively growing moustaches is fun in an otherwise drab North Dakota November, the notion of fighting prostate cancer is an important one. Quite honestly, everyone is touched by this disease through friends, family and co-workers.

Best of all, it can be prevented and treated. It can be avoided, in fact.

So, as the month of Movember comes to a close, please consider donating to HPR’s team or simply attend the event Sunday beginning at 5 p.m. ($25 ticket to enter, funds going to prostate cancer). To find us online, go to http://www.movember.com and click on the donate button. Our team name is Moustache Reader.

December Birthdays

Happy birthday to the following celebrating this month: Sarah Kobrinsky, Zac Echola, Jay Gustafson, Johnny Holm, Tom Persson, Ted Ashizawa, Mike Larson, Matt Sommerfeld, Marc Dockter, Dave Humphrey, Terry Jelsing, Katie Johnson, Leah Kobrinsky, Bev Mihelich, Jim Gompf, Terry Adams, Dave Hasbargen, Erika Tigges, Deb Haney, Bill Larson, Cody Parrill, Bev Pearson, Mark Vevle, Gretchen Bedermen, Hudi Kobrinsky, Jessie Gomez, Cindy Shawcross, Leslie Limvere, Annie Thorndal, Jennifer Nelson, Adam Ferry, Rick Buresh, and Jeff Jones.