Religion and Ethics Forum
Religion and Ethics Discussion => Christian Topic => Topic started by: Rhiannon on September 15, 2018, 09:33:47 PM
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https://www.bbc.co.uk/news/uk-45534283
Wow.
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The CofE as a loan shark, dear, dear! :o
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The CofE as a loan shark, dear, dear! :o
Not really.
I don't think this is a good idea....Wonga's just one firm....by buying it, they might set a precedent and they have other priorities.
But why would offering a loan at a considerably reduced rate of interest - as I understand it, lower than the normal market rate for such operations, be considered being a 'loan shark'? do you have any experience of real loan sharks? Living in a town which suffered financial meltdown after Thatcher butchered the mines, I know of the desperate families who got into real difficulties with these people, who came to reclaim their debt, not with law suits, but baseball bats.
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The CofE as a loan shark, dear, dear! :o
You don't know what you are talking about.
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I don't think this is a good idea....Wonga's just one firm....by buying it, they might set a precedent and they have other priorities.
Could this be guilt because back in Wonga's heyday the CofE invested in them? I see this as an attempt by Welby to find some reparation.
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Could this be guilt because back in Wonga's heyday the CofE invested in them? I see this as an attempt by Welby to find some reparation.
I think it has elements of that. It may be that Selby will push for more of this in an attempt to change the image. I get that it won't stop the market in loan sharing but it will at least help some people. Not sure though that it will be easy to run.
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I expect that the administrative side of the church will ultimately decline to take it on. It's not just for Welby to decide.
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The CofE as a loan shark, dear, dear! :o
Typical half-witted, ill-informed comment.
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Typical half-witted, ill-informed comment.
I must be following your example! ::) My comment was actually meant to be amusing.
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I must be following your example! ::) My comment was actually meant to be amusing.
You think loan sharks are amusing?
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You think loan sharks are amusing?
Of course not. No doubt if the CofE takes on Wonga they will act in a responsible fashion when handing out loans.
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I must be following your example! ::) My comment was actually meant to be amusing.
OK, my comment was iuncalled-for. Apologies.
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I doubt the AofC has much say when it comes to his church's finances but as he's publicly suggested buying Wonga, they might seriously consider it.
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I doubt the AofC has much say when it comes to his church's finances but as he's publicly suggested buying Wonga, they might seriously consider it.
Welby knows quite a bit about finances, before he joined the church he became treasurer of the oil exploration group Enterprise Oil plc in London in 1984.
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But why would offering a loan at a considerably reduced rate of interest - as I understand it, lower than the normal market rate for such operations, be considered being a 'loan shark'?
It wouldn't, but on the other hand, Wonga couldn't make a profit with its high interest rates which implies that the CofE will lose money if they go through with this.
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Welby knows quite a bit about finances, before he joined the church he became treasurer of the oil exploration group Enterprise Oil plc in London in 1984.
Totally different bag though.
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It wouldn't, but on the other hand, Wonga couldn't make a profit with its high interest rates which implies that the CofE will lose money if they go through with this.
My guess is he’d want to turn it into a credit union, although I’ve no idea if that’s possible.
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https://www.bbc.co.uk/news/uk-45611563
The CofE has decided not to take on Wonga.
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Welby knows quite a bit about finances, before he joined the church he became treasurer of the oil exploration group Enterprise Oil plc in London in 1984.
Yes but I meant the CofE's finances & even if he does know, not his main focus.
https://www.bbc.co.uk/news/uk-45611563
The CofE has decided not to take on Wonga.
Ah well such is life.