I’ll now build on my first and second articles in my series about arrogant, elitist Cleveland Plain Dealer “journalist” Sheryl Harris. This article will address a third question she refuses to (cannot?) answer with respect to her coverage of payday lending.

This is one of a series of questions I put to her, which she refused to answer because she “just doesn’t have the time for extended one-on-one debates, so my columns will have to speak for themselves.” That’s okay, because so do mine.

The third question I asked Harris, and that she refused to answer is: “Are you aware that your call for a 28% interest rate cap would cut lender revenue by 90%, and put them out of business?”

Harris’ answer is: “I did not know that. I just write what I’ve read from those noble-sounding “non-profits” like the Center for Responsible Lending and COOHIO. After all, if they say that’s a reasonable rate cap, I guess I can’t disagree. But now I realize that any business that takes a 90% revenue cut could never survive. Heck, the Cleveland Plain Dealer wouldn’t survive a 90% revenue cut. They’ve lost more than half their subscribers and has been laying off people, so I guess that makes sense. You’re right. I did not know about the rate cap effect. I have not done my job as a journalist”.

That’s okay, Sheryl. I’m doing it for you.

Have you had a good experience with payday loans? Why not tell Sheryl Harris?
You can write her at: sharris@plaind.com
Or tweet your feelings to her: @consumerwriter

Why not tell her editor to provide balanced coverage:
BSullivan@plaind.com

Lawrence Meyers blogs at www.ichabodscranium.com

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