[VomisaCaasi]

I'm glad these guys didn't base their business idea on not primarily concentrating on customers who won't even have a chance to pay their loans from the beginning.

Here in Estonia, some entrepreneurs thought it was nice to mix up text-ing from cells and lending as far back as 2006 already (I think). Basically, you'll only need to provide your personal info with their site (name, Estonian version of SSN, bank account, telephone number), and then you'll be able to get a loan for as much as €1000 by just sending a sms. Most people lose their judgement after few shots of vodka, now imagine if you ran out of money after those two shots and the only thing needed to fix that was to send a SMS. Something that the provider won't be telling you, however, is that those loans come with high interests, sometimes as high as 1000% / year. As a result of that, quite a bunch of uneducated people have lost their homes due to this scheme that still is going on today in our unregulated economy. Seems as if they've now began tapping Swedish market, I wonder when is this going to happen in the U.S.

All in all, I was a text-book liberal before seeing some of the people dealing with results caused by this scheme, now I'm beginning to change my mind.

Also, there's a Wiki page about it: http://translate.google.com/translate?js=n&prev=_t&h...