Watched the Netflix Scott Tucker/Pay Day Loan Episode of Dirty Monyey last night...

Illustration for article titled Watched the Netflix Scott Tucker/Pay Day Loan Episode of Dirty Monyey last night...

I actually feel bad for the guy... All three arms of the story did something ridiculous - Tuckers business, the people that borrowed the money, and the government. Here’s my quick thoughts.


While the Indian Tribe and Shell Company stuff seems very sketchy, that is actually quite normal, and was a good workaround of the system of states that don’t allow payday lending. The service charges were insanity but I wonder how much of that was in the original business pan, and how much was added later as the company got bigger. At a certain point you are so removed from what happens you may not know what is happening or to what extent things are happening near the bottom.

The customers I feel the most bad for, but people should know Payday borrowing is not cheap, and there are many times catches in which they should have been looking for. They also probably should have done a better job monitoring what was happening.


Then there is the government... RICO charges... Really??? Sending in FBI Agents to their houses at 7am in full tactical gear when there were children present and pointing shotguns at them... Really??? Trying to make a point of one guy.... Really??? Dragging those race cars up in the most careless manner possible... Really??? Then there is the FTC and their guilty until proven innocent ways of prosecuting... All this and then the next episode was about HSBC laundering money for Terrorist groups and Cartels... They got a slap on the wrist of a months revenue fine. Nice.

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