Daniel O’Brien | Opinions Editor  The shortcomings of the payday loan industry are well documented and, for the most part, obvious and uninteresting. For those needing a refresher, such firms offer loans to those unwelcome elsewhere, either due to low income, bad credit, or more often both. A necessary result of this business model, though, is that payday loans charge a far higher rate of interest to account for their increased risk. The problems that ensue are largely predictable. What’s far more interesting is the story, documented by BBC earlier this month, of an unemployed 20-year-old student who got caught up in this mess. Elliott … Continue reading Predatory Spending