World Acceptance Corp (WRLD) — Part Deux
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“Americans know that they have a responsibility to live within their means and pay what they owe. But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties, and hidden fees …” President Barack Obama (May 10, 2009)
While President Obama was referring specifically to usurious credit card practices, those are tame and civil compared to how World Acceptance does business. Citron believes in the New America, it is only time before either legislatures, the courts, or its own debt/receivables collapse the “shady” business of World Acceptance. This report clarifies the pivotal difference that makes World’s business model much more vulnerable than the payday lending industry. (more…)