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article image'Last Week Tonight's' John Oliver took aim at payday loans

By Owen Weldon     Aug 14, 2014 in Entertainment
British comedian John Oliver recently took aim at payday loans, which are unsecured short-term loans that have high interest rates.
In the video Oliver talks about how shops that provide payday loans have spread so fast that there are more of them than there are McDonalds. Oliver then said that even Ebola is impressed with that growth rate, according to Vox.
According to The Wire, the host of 'Last Week Tonight' also said that there were more payday lender shops than Starbucks.
Oliver's biggest issue with the industry is the vicious circle that it creates, and it prevents people from escaping. Oliver went on to say that this was the circle of debt and sang the Lion King theme.
According to Raw Story, Oliver also likened payday loans to Lay's potato chips, saying that you cannot just have one and they are just terrible for you.
Oliver discussed regulation of the industry — pointing out that there is practically no regulation — saying that legislators even own payday loan businesses themselves.
Comedian Sarah Silverman appeared in a "counter-campaign" at the end of the show, and was promoting "anything else."
Silverman suggested doing anything else other than taking out a payday loan when someone needs money. She said that people should consider selling their blood or sperm if they are thinking about taking out a payday loan.
More about John oliver, Payday loans, Loans, Payday
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