this post was submitted on 16 Nov 2023
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I'm not sure this qualifies as sophisticated - or even a scam, when everything is specified in plain text.
Except obviously it is because nothing on that website alerts the buyer to the possibility of paying 4x the price of the good as the total cost of transaction. 33% to 38% interest pa is already egregious enough as it is but 4x the base cost of the good is absurd and usurus.
Sounds like you just have an ideological bias against consumer regulation and are trying to fit the facts into your framework.
I'm in favor of consumer protection laws on aspects like quality, safety, etc. Things that are more nebulous and harder or impossible to check. But at some point, I do believe consumers have a responsibility as well. I understand that convenience stores charge me more than groceries, and it's fully on me if I shop there. In the same vein, if I buy a car that's going for 50% above market value, I'm not about to scream fraud, provided all information on costs and fees were given to me.
You can look at this from another perspective, which is the benefit of allowing a scam like this to continue vs. regulating it out of existence. The only upsides of allowing this to continue is the company perpetuating it making money and a smug lemmitor getting to feel superior to the poors and disabled people, so it's obvious that it shouldn't be allowed to exist.
It's amazing how many hexbears can't have a simple discussion without getting personal.
I agree this BS needs to stop. I disagree on HOW it should be stopped. The market (and people out to make a quick buck) will always move faster than the govt can respond. Especially when the victims involved here have shown absolute zero financial literacy. Rather than treating the symptoms, I believe there should be more focus on education.
Not really much of a discussion to be had. You just keep alleging facts without evidence. I don't think many people consider "Uh huh!" and "Nuh uh!" to be a form of discussion.
Wasn't referring to you here, you'll notice we had a reasonable conversation, even if we disagreed. You were the lone exception though.
You want so very badly for grifters and scammers to go unpunished and have unrestricted to vulnerable people that you'll proclaim the answer is "education" while even then you want so very badly for anyone who gets preyed upon to have no protection and no recourse.
You disgust me.