I agree with you on every count and even in view of the pending court action by ASIC, it is recognised that without an organisation such as Money3, the vulnerable get pushed into the arms of some serious rogues, plus credit is simply not available to many due to the laws surrounding responsible lending and servicing / affordability of repayments.
The whole money lending industry is on the nose at present, from the top to the bottom, in every incarnation, perhaps with the exception of private corporate lending, but the point I was making was that while the banks chose to bale out of consumer lending for cars and personal goods, the incomers thought they had a licence to print money - they did not.
SVR Price at posting:
$1.32 Sentiment: None Disclosure: Not Held
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