Friday, March 12, 2010

Whatta Crock, Corker

Today's Moral Hangover of the Day Award goes to Republican Sen. Bob Corker, the conservative lawmaker from Tennessee. Sen. Corker is the linchpin to coming up with a bipartisan agreement on new financial regulations. He's also the guy who fought to remove regulations aimed at predatory lenders, the so-called payday lenders, which make money by charging 400% interest on short-term, high interest loans aimed at low-income Americans and our military. The New York Times reports Corker, surprise, surprise, gets a lot of campaign dough from these neighborhood loan sharks, though he denies that influenced his decision to kill legislation that would regulate them.