The post you are reporting:
Wonga to be illuminated ................do dreams come true ? ....they make big donations to the Tory Party
close friend of Flashman.............they look after their own....,there all in it together and could not give a
bugger about the rest....... Bullingdon rules....
Courtesy Independent.............
War on Wonga: We're putting you out of business, Archbishop of Canterbury Justin Welby tells payday
loans company
The Most Rev Justin Welby has told Errol Damelin, the founder and chief executive of Wonga,
about his ambition to make the controversial lenders redundant - by helping the 500 financial
co-operatives, which already provide small loans to their members, play a much bigger role in
helping people with money problems.
The Church of England has already set up a credit union for its own staff, which will advise the
other co-ops on how to expand their reach.
Officials believe the problem is not the number of unions but ensuring greater access to them.
The Church will allow them to use its buildings and schools and encourage Church members
with the right expertise to volunteer with them.
The Archbishop, a former oil industry executive and a member of the Parliamentary Commission
on Banking Standards, has pointed out that the Church has 16,000 branches in 9,000
communities - more than the banks. In an interview with Total Politics magazine, he said:
"I've met the head of Wonga and we had a very good conversation and I said to him quite bluntly
'we're not in the business of trying to legislate you out of existence, we're trying to compete you
out of existence.' He's a businessman, he took that well.".....more power to your elbow....