During last night’s “New Rules” finale, Bill Maher discussed the sad saga of QAnon fruitcake Ashli Babbitt, who was in a financially precarious position before she was killed inside the Capitol building on 1.6.21.
Maher passed along information from a 12.7.21 N.Y. Times story about Babbitt (“Woman Killed in Capitol Embraced Trump and QAnon“). The article reported that Babbitt, who ran a pool-cleaning business, took out a “costly” short-term business loan for $65K in in 2017, and that it required Babbit to pay back 169 percent above and beyond the principal, or $140K and change.
Is that roughly correct? A total debt load of $140K, I mean. Math has never been my strong point.
What kind of predatory scumbag pirate outfit charges 169% interest?
Quote from Times/Babbit piece: “Ms. Babbitt appeared to struggle in business. In 2017 she took out a costly short-term business loan. In effect, it meant her pool business would have to pay an interest rate that she later calculated in court filings to be 169 percent. Within days of signing the loan agreement, she stopped making payments, only repaying about $3,400 of the $65,000 borrowed from the lender, EBF Partners, records show. The lender soon sued her.”