April 13, 2010 04:07 AM UTC

Payday lobby will 'see Ferrandino on the floor'

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• by: jaytee

(No comment – promoted by Danny the Red (hair))

At least the payday loan industry is consistent in being an unlikeable ugly force in every realm. Industry lobbyists are to the point of challenging elected officials to legislative battles. That’s right. Whose House is the Colorado House? Payday fatcats think it’s their House. The Colorado Independent:

Payday loan industry lobbyists taunted lawmakers looking to regulate them after a committee hearing on regulatory legislation held late last week.

Ron Rockvam, president of Money Now and of the Colorado Financial Service Centers Association (COFISCA), said that an amendment introduced by regulatory bill sponsor Denver Democrat Mark Ferrandino that would raise proposed payday interest rate limits didn’t go far enough to assuage industry concerns. He threw down the gauntlet to Ferrandino, challenging him to try and pass the bill in the House.

“Do we think 37 cents is going to make a difference on whether we can stay open or not? Absolutely not. It’s window dressing on the same poison pill. We will see [Ferrandino] on the floor.”

Rockvam will “see Ferrandino on the floor.” Well, points for honesty, I guess. It’s another peek into your democracy at work for the innocent in the audience. Rockvam never had to run for election and he probably makes a hell of a lot more money than any of those poor schmucks like Ferrandino who earned the right at least to actually be on the floor. He’ll see them there, alright, and their little dogs, too!