Okay, so no one’s actually getting killed. But their lives are being made more difficult—in this case, legislation to “help” the poor by tightly regulating payday loan places will sharply restrict their access to short-term credit. Are there con men out there? Sure. Do people get ripped off? No doubt.
This doesn’t call for regulation, though—it says that there is money to be made as an honest payday lender. Blanket regulation that hurts honest entrepreneurs in an attempt to restrict con men does more harm than good.
