Well $1.266 Billion aint GRM

jstand wrote: I'm not condoning what the guy did, but how is the government any better? The fine goes to the government and not the victims, so basically the government just made $1.2 billion off the people who used pay day loans. How is that justice for the "victims" in the case?

It doesn't help the victims in any material way but it does punish and discourage the behavior that victimized them and thus reduces the chance of it happening in the future. Much like locking up a murderer even though it doesn't revive their victim.

I agree in principle that the victims should be compensated with that money, but I doubt there's any legal avenue for that to happen now.

I agree there isn't really a mechanism for the repayment of the victims. It just seems like a big windfall for the government that ultimately came from the people least able to afford it.

But I don't know if I agree with the murder analogy.

I equate closer to getting mugged. It's like you get mugged, and then the guy that mugs you gets mugged by a bigger guy around the next corner.

Sure the guy that mugged you got punished and probably won't mug anyone in that neighborhood, but your money has just moved from one criminals hands to another's.

In reply to jstand:

I came here to say that. It would be way better if he had to write a personal check to each person like Navin R. Johnson had to do.

I do agree with you.. I thinking writing a cheque to each and every person he defrauded would be the perfect sentence. Of course now that the feds have come down hard on him, he's wide open for a nice lawsuit

In reply to Tom Suddard:

The professional in me really has to fight not publicly sharing his cell phone number, address (both physical and email).

I'm glad to know that the FTC is keeping their foot down (on his throat).