“It’s a trap we need to make sure Arizona consumers don’t continue to get caught in,” he said in a recent talk show interview on KFYI-AM in Phoenix.
The proposition sounds as if its main purpose is to reform a payday loan act, which is scheduled to expire in 2010, but it actually protects the predatory lending business, which is snaring desperate borrowers and charging interest rates up to 391 percent.
While it is true that people sometimes need quick loans, they can get caught in cycles of taking out payday loans to pay off a previous payday loan. That is the basis of this country’s economic crisis, borrowing on tomorrow and, as a result, falling further and further behind.
Other lending institutes in the state cannot charge interest rates higher than 36 percent, according to the Arizona Credit Union League and Affiliates Web site.
Vote “no” on this proposition to protect individual and state economies.



Comments
18 comment(s)3rdstreet Aint wrote on Nov 5, 2008 6:28 PM:
3rdstreetsaint wrote on Oct 30, 2008 2:23 PM:
Ronald wrote on Oct 29, 2008 6:05 PM:
MacDonald Bill wrote on Oct 28, 2008 8:05 PM:
Early Voter wrote on Oct 28, 2008 1:23 PM:
Hmmm you have to wonder wrote on Oct 28, 2008 9:08 AM:
Ask him about it wrote on Oct 28, 2008 8:55 AM:
We do know that Konopnicki fully supports 202 and opposes the current employer sanctions laws because he supports an open border and an amnesty program for cheap labor for his special interest backers. "
Bonita Bob wrote on Oct 28, 2008 8:48 AM:
Just because Nathan Sproul wrote Prop 202 doesn't have anything to do with Konopnicki's support of the measure and his opposition to Arizona's present employer sanction laws, does it. "
To tell the truth wrote on Oct 23, 2008 2:20 PM:
So much for Bonita Bob's know it all writing. "
Ann wrote on Oct 23, 2008 1:12 PM:
200 are the ones that require signatures to get to the ballot , usually by paid circulators.
300 is put on the salary review commission. "
tim r wrote on Oct 23, 2008 12:39 PM:
It's a SHAM "
Patrick wrote on Oct 23, 2008 9:08 AM:
Question wrote on Oct 23, 2008 8:38 AM:
And finally general comment... as for "special interests", how do you know that these propositions isnt the will of the constituents that the elected official (of any party affiliation) represent? What if their "special interest" is what their district/region wants? Hmmm? "
JEM wrote on Oct 23, 2008 7:29 AM:
I found a new peer-to-peer payday loan platform at http://www.yadyap.com. They allow people to lend other people a payday loan. The bidding system will get the rates down as low as possible.
It seems like a real solution as opposed to all of the arguing and legislation. "
Bonita Bob wrote on Oct 22, 2008 5:06 PM:
Bonita Bob wrote on Oct 22, 2008 5:02 PM:
But what everyone doesn't know is that Corporation Commission candidate (and ex-member of the legislature, and good friend of Konopnicki) Marian McClure is one of the people behind Prop. 200
So, please leave the space next to Marian McClure on the ballot blank. "
Befuddled wrote on Oct 22, 2008 4:01 PM:
NoProp200 wrote on Oct 22, 2008 1:03 PM:
They've event taking to attacking themselves in trying to trick voters into protecting their outrageous interest rates!
At the end of the Prop 200 will allow this predatory system to continue a business model that thrives on creating debt!
Get more info at www.200isnoreform.com "