It was interesting this week to see Martin Lewis of Moneysavingexpert.com saying that pay-day loan merchants Wonga not be allowed to advertise during daytime hours when children might be watching –fancy worrying about the suitability of these adverts with their cuddly cute old folk gently encouraging people to dive wallet first into the hell of eternal 5000% plus rate loans, I think just slightly more than the Mafia used to charge in old time Chicago but hey that’s inflation for you
You might agree that it’s hard to disagree with Mr Lewis on this – an alternative to banning them would be for the advertising standards authority to make the character and consequences of these loans more realistic. I offer this to Wonga for free – no charge .Instead of the little pensioner puppets giggling away, how about a couple of well built tooled up Kray twins look- alikes kicking down some screaming young womans door before they threaten her and her small kids with a baseball bat ,then walking off with her telly , maybe with a strap line, Ray Winstone voice over of course ..“Pay up now !! or your f***ed..forever!”
The question is will Martin’s campaign get anywhere with this government – Here’s a smallish clue .. a major beneficiary of Wonga’s success is Adrian Beecroft who has donated over half a million pound to the to Conservative party, so maybe not.
Those of you who follow politics might also recognise Beecroft as name of the man Cameron commissioned to produce a report recommending the abolition of basic employment rights. That could, of course force vulnerable people into financial trouble and send them into the evil embrace of the payday loans and so serve to swell the coffers of Mr Beecrofts’ bank account which in turn would allow him to tip yet more money to Cameron’s Tory party – what a perfectly corrupt circle it all makes.