Watch John Oliver Explain How Payday Loans Are Awful


Payday lenders are awful, horrible scum who prey on the desperation of the working class. Payday loans are awful, horrible deals wherein a borrower gets a small amount of cash at an exceedingly high interest rate and agrees to pay it back in a short amount of time, typically two weeks. If a borrower can’t pay it back then they’re hit with an avalanche of fees and end up having to borrow more and then its a vicious cycle all the way down. According to the Center for Responsible Lending, the average borrower ends up paying $1,105 to borrow just $305.

On Sunday’s Last Week Tonight, John Oliver made these points and more in a way that will make you eventually run your head into a brick wall because you have no more tears left to shed.

Watch:

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BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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