So?
The point at hand is those that ran Wonga were scum for exploiting such and inevitably leaving the taxpayer picking up the long term bill of poor lives made a whole lot worse.
I don't agree but still... 
No doubt Big Tom and his kneebreakers will be happy eh...?
So where do you draw the line on people getting rich exploiting the feckless to leave the taxpayer clearing up the final mess?
Where is the exploitation...? The interest rates reflect the credit worthiness of the borrower and the likelihood of the lender getting paid back.
If you have a great credit rating companies will be queuing up to lend you money and competing for your business.
If you have a poor credit rating, CCJs, etc. Not so much.
So the choice is Big Tom and his kneebreakers or Wonga.
No the choice should be live within your means or struggle
Yes, that is the sensible choice for the rest of us...
But clearly some choose other choices...
They are called 'Pay Day Loans' for a reason, they are meant to tide you over when you have
no other borrowing choices...
There was a
letter comment from that Times article about a teacher who needed £250 to fix her car. She borrowed it from Wonga (there being presumably no other avenues available to her) and had to pay back £350 a month later. A huge amount of interest but she is high risk and borrowing the money allowed her to fix her car and keep working.
Still, as long as you are happy that they have gone under...
I'm sure people like the teacher will modify their lifestyles in future and have no need to borrow money from lenders of last resort now Wonga has gone...
