Jesse Jackson Ready for Payday LoansJesse Jackson the famed civil rights leader and former Democratic presidential candidate 1984, 1988 has decided to mix2008 presidential electionpolitics and payday loans. Recently, Jackson again pointed out to the news media, the presidential candidates, and the black community that the African American vote cannot be taken for granted by the Democrat Party nor theDemocratic presidential candidatesHistorically, the Democrat Party has been seen by African Americans as their party, a party that shares, promotes, and safeguards their interests. This is not only true going back to the Reconstruction effort following the Civil War but most recently in the mid 60s when many Democrats supported the civil rights movement. Ultimately, the equal rights engendered to African Americans were a result of the civil rights campaigns and the Democrat politicians implementing policy change.
As a result of the policies of equality promoted by numerous Democrats and opposed primarily by many white Southern Democrats, realignment occurred. The realignment in the South occurred when scores of white Southern Democrats who opposed civil rights along with white Republicans, actually became Republicans. Hence, that is why you see in the current landscape in many southern states, a strong Republican base.
Before the southern realignment, the south was a strong Democrat bastion. Herein, many of the currently registered white Republicans from the 60s were former Democrats who opposed equality for non-whites and supported the American Apartheid.
The legacy of the modernDemocrat Partyis tied to the legacy of the civil rights movement, in turn enjoined with the destiny of the African American community. Jackson, however, believes that the Democratic presidential candidates are not vigorous enough in their support of issues facing the African American community. One such issue, as Jackson points out is the omnipresence ofpayday loanlocations in black neighborhoods.
Jackson is convinced that thecash advancelenders unduly target short-term personal loans towards African-American households. This allegation of exploitation of many economically disadvantaged African Americans is based upon the tendency towards payday loan stores clustering in predominantly urban neighborhoods.
According to Jackson, the Democrat candidates are turning a blind eye to the activities of thepayday industryin relation to the African community. He calls the practices of the industry predatory in nature, exploiting the vulnerabilities of poorly educated community. He claims that the average black has higher rates of bankruptcy, lower-paying jobs, bad credit, and are being targeted by the lenders of predatory car title, pawn, and payday loans.
He wholeheartedly believes fast cash loan lenders seek to maximize profits on the backs of financially unsavvy African Americans, trapping them in a cycle of unending debt. Jackson is not content with mere platitudes from the candidates, but wants tangible action instead to help the African American community.
