By Chinedu Ezeocha for Ezeocha Post
Originally Published on Friday October 3, 2014 at 4:37 PM CT

 It is no secret that in Texas, businesses runs the government. Friendly laws and policy decisions are made to benefit businesses than we the people – the very consumers that businesses rely upon for their survival. This is because of the generally accepted belief that businesses create jobs and by so doing help grow the economy. We the people on the other hand are seen more often as unwelcome inconveniences especially when we demand from government certain social privileges or when we demand that our rights be protected against predator businesses that prey on the vulnerable. In a nutshell, if there is ever a contest match in Texas between businesses and we the people, and the state government is the umpire, businesses will always win no matter how hard we the people try.

In this essay, I am going to argue that the shylockian exploitation of ordinary Americans in Texas by businesses, actions that are encouraged by policies of the state government, has reached an alarming crescendo and need to be discussed and efforts made to reverse the ugly trend. I will make my case using the ‘loan shark’ businesses and the relationships that exists between apartment renters and apartment managements as my references.

In early 2012, I needed to buy my first car in America. I just got my work permit and all the good jobs (when I say good jobs I mean better than minimum wage) I was getting were at places where the METRO bus system do not go to. So in order to secure these good jobs and better take care of my family, I needed to buy a car. I needed extra $1000.00(one thousand dollars) to complete the money I already had to get the most affordable car available to me then. Family and friend could not lend me the money. So I went to Ace Cash Express (a loan shark company) to borrow the money. They agreed to lend me the money but for the $1000.00 that I needed to borrow from them, they wanted me to return it back to them in two weeks time and by the time I will be returning the money, they wanted me to return $1500.00(one thousand, five hundred dollars) to them. $500.00 (five hundred dollar) interest in two weeks for a loan of $1000.00 (one thousand dollars). And that is a 150% interest in just two weeks. Nobody makes that kind of extreme gains in business in such a short time. Else, everybody will be a businessperson and nobody will be working for anyone else. Out of curiosity, I asked them how much I would be required to pay back if I chose to repay the $1000.00 after one month. And they told me that I have to return $3000.00 (three thousand dollars) to them by the end of one month if I choose to rather than two weeks, pay them back in a month’s time. And that, my friends, is a 300% interest rate. Just for a month.

The Texas-big question now is: where else besides Texas does a business make this kind of outrageous gains on an investment in such a short period of time?

Just hold your thought.


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