Last month I drew a cartoon which compared ex-MP Stan Keyes' appointment as President of the Canadian Payday Loan Association to Muhummad Yunnus, Nobel Peace Prize winner who pioneered microcredit loans to the world's most poverty stricken. A comment was left yesterday under my blog entry concerning the cartoon from someone going by the name... yep... Stan Keyes. I don't know if it is in fact from the ex Liberal Martinite cabinet minister, but it sure sounds like him:
Graeme MacKay does not know me. He has never taken the time to speak with me. He has broken the first rule of journalism and made assumptions. He has not done his homework on the Canadian Payday Loan Association. Graeme MacKay passes judgement, attacks then runs and hides. Pretty shameful.
I know he was pretty p-o'd after the cartoon ran. Complaints by Keyes were fired off to my boss, and he was offered the opportunity to defend Payday loans through an Spectator Op-Ed piece which has yet to be delivered and printed. Looking forward to reading it, Mr. Keyes!
In other news, local campaign scrutiny activist Joanna Chapman writes in that she's a fan of my cartoons (at the bottom of the entry.)
Posted at 11:57 pm by Graeme_MacKay
|The Hamilton Diggers |
November 30, 2006 05:05 PM PST
He just makes it sooooo easy doesn't he?
We thought it was a brilliant editorial cartoon and a very apt comparison.
In our line of work, we see the impact of these loan shark operations on vulnerable people. If Stan paid any attention to the constituents he was supposed to be representing, he would realize how laughable his crocodile tears are in comparison to the very real desperation many clients of these payday loan outfits face.
Keep up the good work Graeme!
November 30, 2006 09:28 PM PST
Even viewers of 'Oprah' know those pay-day loan places are shady. They don't exactly help people stay out of debt. But perhaps that's what Mr. Keyes wants, people to get farther in debt so they have to rely on a Liberal government to bail them out.
It's a shame that after years in politics, he still doesn't have a thick skin.
December 2, 2006 01:50 PM PST
The tricky thing about financial services, like virtually all things important that middle class people like us take for granted, is that imagining life without them is hard. Though pay day loans are associated with over indebtedness and the cost is very high, without check-cashing, pawn broking and informal finance--friends, family, etc.--poor and low-income people have no where to turn for emergency needs for lump sums of money.
It’s also important to note that microfinance--small sums in the form of insurance, loans, savings, etc,--for poor people around the world costs a lot to deliver, especially in rural, mountainous or other areas. Consequently, the cost of borrowing is fairly high. Though the Grameen Bank has done a pretty good job of bringing the price down, most microfinance in the world involves annual interest rates of between 15% and 70%. It is higher in places where inflation is out of control.
December 3, 2006 12:59 PM PST
Yet the positive results of microcredit hugely outweigh the negative of those few who default on their loans. The product is tangible business that lifts individuals out of hopelessness and extreme poverty. Payday loans just prolong the agony of people who can't pay their bills, and is often the opening act of declaring personal bankruptcy.
|Payday Loans |
December 15, 2008 12:02 PM PST
Payday loans are great for those immediate and sudden unexpected expenses that can come up in between paydays. Payday loans are quick, easy, and more affordable than the late fees and overdraft fees that can occur.