Sunday, 28 July 2013

Church of Wonga

Now as much as I don't agree with payday loans, they are of course better than the alternative, which is two large geezers knocking on your door to 'enquire' why Mr X hasn't had his money yet!

Just as payday loans were applauded for removing some of the the poor from the vagaries of the 'loan shark' (and we still have them and people 'helping' those around us get further into debt) the reality is that Justin is on the right track with his championing of Credit Unions and low-rate payday loans, helping to replace white goods without increasing the burden of debt and more.

One of those I spoke to on Friday said that 'the Church' ought to stick to i's own business and keep out of the financial world - after all, they said, 'You don't see banks opening churches now, do you?'

What a thought - perhaps Errol Damelin, Founder of Wonga, ought to draw up battle lines and open the Church of Wonga - Motto: 'Why not count on tomorrow to pay for today?'

I have to say that I think he looks the part - so why not? After all, money is the focus of many of those I meet and so a church that looked towards the accruing, spending and general worship of the stuff would be popular - and you could always take out a loan for the repayments (errr, I mean, offering!)

The reality is that Damelin and his organisation are meeting an obvious need - that's what business does.

What Justin is doing is trying to meet that same need, but in a better way, and this has to be good for everyone - well everyone except those who make money out of lending it that is) - and this has to be applauded and acted upon (Church is often poor at the former and invisible in the second of these).

For my money (and prayers), Justin has chosen his battlefield well - he just needs the CofE to be more circumspect in its investments now. Still, he looks good in the shirt!

He, and the CofE, will look even better when he's taken it off ;-)