Are Children Wearing Nice Clothes Thanks to Payday Loans?

Vance: Some people probably did buy like way too much house in the run up to the 2008 crash. But that's because those people were being told systematically that that was a good investment and the housing market couldn't crash. And also frankly you shouldn't have to make a flawless series of financial decisions to get through life. Vance tells a story about how a payday loan once helped him avoid an overdraft fee. He says government officials who want to ban the practice are ignoring stories like his.