(2012/01/07) This is Pottersville (Economics)
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 8 January 2012
⏱️ 62 minutes
🧾️ Download transcript
Summary
Edition #563
This is Pottersville
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Act 1: Big Banks Behind Payday Loan Scams - Young Turks Air Date: 12-7-11
Song 1: Spite - Vandaveer
Act 2: Alan Grayson: Trillions in bank bailouts by the Federal Reserve - Countdown Air Date: 11-29-11
Song 2: King - O.A.R.
Act 3: Bloomberg vs. The Fed - On the Media Air Date: 12-2-11
Song 3: Carmina Burana: I. O Fortuna - London Symphony Orchestra & Richard Hickox
Act 4: Teenager Learns Negligible Value Of A Dollar - The Onion
Song 4: Panning for gold - Ben Sollee
Act 5: Do The Rich Have Souls - Young Turks Air Date: 12-21-11
Song 5: Money (That's What I Want) - Barrett Strong
Act 6: Vulture Funds And The Greediest Men Alive - Lee Camp Air Date: 12-19-11
Song 6: More and more - Captain Hollywood Project
Act 7: Congressman Keith Ellison - How to get corporate money out of politics - Thom Hartmann Air Date: 12-7-11
Song 7: Pottersville - Blank Squirrel as heard on The Majority Report - Air Date: 12-23-11
Act 8: Big corporation, tiny heart - Jim Hightower Air Date: 12-14-11
Song 8: Breathe Me - Sia
Act 9: GOP Plan To Raise Your Taxes, Cut Taxes On Rich - Young Turks Air Date: 11-13-11
Song 9: Worried man - Paolo Nutini
Act 10: Libertarian Reluctantly Calls Fire Department - The Onion
Song 10: Yell fire - Michael Franti And Spearhead
Act 11: Payroll tax cut: Robert Reich breaks down the GOP's hypocrisy - Countdown Air Date: 12-6-11
Song 11: Maria - Blondie
Act 12: GOP Objects To 'Millionaires Surtax'; Millionaires We Found? Not So Much - NPR Air Date: 12-10-11
Song 12: The Silvery Light of a Dream - The Apples in Stereo
Act 13: Payroll Tax Cut Advice from the Wall Street Journal - Young Turks - Air Date: 12-21-11
Song 13: Eclipse - Apoptygma Berzerk
Act 14: A List Of Corporate Criminals Ravaging The World - Lee Camp Air Date: 12-12-11
Voicemails:
9/11 Truthers and the discussion of cults - Arkle
Hijacked by the bamboozle - Rochelle from TX
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Voicemail Music:
Loud Pipes - Ratatat
Final Comments on "Opt-In-Island Economics"
Bonus iPhone/iPod Touch App Content:
SuperCommittee - Mark Fiore Air Date: 11-16-11
Produced by:
Jay! Tomlinson
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Transcript
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| 0:00.0 | Welcome to another lovingly chosen re-run episode of the Best of a Left podcast for |
| 0:07.0 | the Holy Day vacation to keep you in a depressed mood about the economic state. |
| 0:11.8 | With clips today from the young Turks, countdown on the media, the onion radio news, comedian |
| 0:16.7 | Lee Camp, the Tom Hartman program, the majority report, and NPR. |
| 0:30.0 | The Center for Responsible Lending and Credit Slips.org found out that major banks are actually |
| 0:35.6 | behind these predatory payday loans, and this is something that we have talked about on |
| 0:41.2 | the show before. |
| 0:42.2 | The payday loans are horrible, they're horrendous, basically what they do is they take advantage |
| 0:46.3 | of vulnerable individuals who need money and they need it fast, and they loan out the |
| 0:50.8 | money with ridiculous APRs. |
| 0:52.8 | For instance, I'll give you an example that I looked up. |
| 0:55.8 | There is a payday loan company known as Western Sky. |
| 0:59.3 | If you are looking for a $1,500 loan, they will actually immediately ask you for $500 |
| 1:06.6 | up front as a loan fee, which is so stupid. |
| 1:11.5 | What's cool is you can go borrow that from another place it doesn't ask for a fee to pay |
| 1:15.6 | for your new loan. |
| 1:16.6 | Yeah, you could do that. |
| 1:17.6 | Well, that's basically what these people are doing, and it has a name, it's called churning. |
| 1:20.6 | Yeah, churning, exactly. |
| 1:22.0 | So you immediately have to pay back $500, and your APR, and I'm not making this up, is |
| 1:27.8 | 234.25%. |
| 1:29.3 | It's incredible, they were talking about average interest rates of 455%, can you imagine? |
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