I was reading an article on CNBC’s website entitled, “Is It Too Expensive to Be Poor in This Country.” The article discusses the issue with Payday Loans and how it affects the poor. As I read the article I started thinking about the large banks in this country and the billions of dollars they pay each year in fines to the federal government. What happens to all that money that the federal government collects in fines?

Here’s one solution I have to the Payday Loan situation. Why doesn’t the federal government require these banks to take part of the fine money and set it aside as low interest loans for the poor. It would not take long and we would destroy the Payday Loan business in this country. And I would venture to say that these loans would get repaid. The poor in this country is simply looking for a way to get past that shortfall of income during critical times in their life.

What you think about that? Instead of the federal government taking all this money they collect in fines every year and dumping it back into a wasteful federal government, a portion of that money could be put to good use.