House, Senate Vote for Pottersville

The news reports call it a “25% per month” interest rate. That’s probably because the editors couldn’t quite believe the APR of some 1355%. That’s what the New Hampshire House and Senate let sleazy loan sharks charge poor people.

Nobody who isn’t desperately poor would borrow money this way. Nobody with a shred of human decency would commit this contemptible usury. But this is the commerce our General Court promotes.

We have different views of our communities. Most of us like the friendliness and neighborliness of Bedford Falls.

The Repoublicans we let into the legislature say “New Hampshire Advantage” and dream of Pottersville.

  • mevansnh

    loan sharking is a criminal activity.  Was this a veto override?  Nov. 2012 can’t come soon enough.

    • elwood

      The Senate overrode Lynch’s veto earlier, the House did today.

  • GreyMike

    but Stupidville as well.  Override also passed on HB 542, here’s the quote from NEA-NH’s Rick Trombley:

    The law in New Hampshire now gives every parent an absolute veto over what is taught in the classroom. Public school children in New Hampshire traditionally score well on national tests. That will be threatened because any parent can refuse to allow their child to be taught subjects which will later appear on these tests. Further, the cost of teaching these alternative material is passed on to taxpayers with no reimbursement from the state or the parent. The parent pays only the cost of the material , not the additional instruction needed to teach it.

    Loansharks thrive on ignorance. Come to think of it, so does the majority of the NH legislature.  November 2012 indeed.

  • Dean Barker

    overindebtedbess?  

    These userers will enjoy feasting on the downtrodden of NH.

    The NHGOP budget did a bang-up job last year of putting lots of people out of work, coincidentally.

    Adding: getting these predators out of NH was a goal of my Senator Matt Houde.  Today his work protecting consumers was undone by my Free Stater rep Jenn Coffey, who was a force behind the pro-usury crowd.

    Maddening.  

  • Lucy Weber

    The House also passed SB 160-FN which does for payday loans what SB 57 did for title loans.

    Gun fans will be glad to note the House also passed HB 334, which removed the authority of the university system and community colleges to ban guns.  HB 334 is a retained bill, which will now go to the Senate, and if it passes, private businesses who rent state owned space would not be able to ban guns either (think daycare centers) nor would the veteran’s home (think alzheimer’s patients) nor Verizon Wireless Arena or Fisher Cat Stadium.  (The Governor has said he will veto this one, and given the vote, we may be able to sustain the veto.  But we thought we had done that on HB 542, re exceptions for objectionable materials in public schools, in which we narrowly sustained the Governor’s veto in December, but on reconsideration today, it was shocking how many of the Rs had been persuaded to change their votes.)

    And HB 217, including “Unborn Child” in the definition of “another” for purposes of charging the crime of first or second degree murder, thus conveying personhood on a fetus in NH for the first time.  The bill was unnecessary, and NH has, since 1990, had enhanced penalties for those whose crimes result in the death of a fetus.

    And HB 581, which began life as a bipartisan bill (indeed, all but one of the sponsors were Rs) intended to give added protections to those consumers who purchased prepaid fuel contracts.  The committee removed not only the protections contained in the bill, but removed those already present in the underlying statute as well, replacing all with a simple statement that a buyer entering into such a contract should beware.

    And we’ve only gotten part way through the Criminal Justice bills on the list.  (Bills are, for the most part, voted on from each committee in turn, going in alphabetical order.)  We have some 43 retained bills still to be acted on, plus the ones removed from the consent calendar.  In the afternoon session today, which started at 1:00 and ended after 5:00, we dealt with 12 bills, of which three were tabled.  

    It’s going to be a long year.

    • cblodg

      … though I am thinking of running in the years to come.

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