The Sin of Usury: When “Helping” Becomes Exploitation

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Chris Markowski breaks down the Pope’s recent condemnation of usury — and why he agrees. From predatory auto loans to student credit card traps and government-backed “affordable” mortgages, Markowski exposes how modern finance often masquerades as help while knowingly pushing people deeper into debt. He explains the moral line between capitalism and exploitation, and why lending practices that profit from desperation aren’t just bad economics — they’re a sin.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
The Sin of Usury. I again, we've been on this
bit of a rift, okay, a bit of a riff.
I've been on for the past couple weeks talking about
good money and bad money and capitalism and what capitalism
really is. The Pope just launched a pretty big attack

(00:36):
against usury and how they have a devastating impact on
the lives of so many individuals and families. And again
it's it's not wrong, Okay, it's in the Bible. Many
of the people are like, well, what are you talking about?
What about the Vatican Bank? What about this investment that Listen,

(00:58):
usury is something that brings knowingly, knowingly taking advantage, knowingly
bringing people down. What do I mean by this? I mentioned,
as we talk about here, our government actually helps engage
in this by saying, hey, we're going to give people
loans and give them access to capital that they can't handle.

(01:24):
Talked about all of the ridiculous mortgages that were put
out by Andrew Cuomo when he was the head of
Housing and Urban Development, which led to the housing crisis.
Oh no money down, ninja loans, all of these various
different things and did it help people or did it

(01:44):
hurt people? That's Usurus that you take a look at
these various check cashing places that litter various different places
around the country. You are you really helping people there? No, no,
you're not. You see what you're taking on these things?

(02:08):
I know, but there's big risk involved. I understand that
there's risk involved. I get that. Which should you do it?
Is that the right thing to do? Right? We talked
about some of these, you know, these auto lenders as
of late, lending to people with no credit, no driver's

(02:30):
license at absolutely moronic rates. They knew that they were
getting people basically entrapped in a black hole that they
never be able to get out of. Big banks, credit
card companies setting up shop outs and student unions when
you know kids come to school and getting kids credit
cards that they might not really understand or tackle. And

(02:53):
I get it. I understand personal responsibility life, I do,
I do, But that doesn't mean you have to go
out and take advantage of people what initially appeared and
that he actually put this out what Pope says, what
initially appears to be a help actually becomes a torment

(03:16):
in the long run. He's absolutely right. That's what we
have been saying here for some time. You are not
doing anyone any favors whatsoe. And again they put themselves
out there like they're being help You're not being helpful.
You know what you're doing. You know you are getting

(03:37):
these people hooked with all I mean, I mean you
even see it. You didn't see it. In terms of
student loans and some of the the ah the four
will give you four bearings for a period of time.
And again I understand personal responsibility. I get that. I
get that, But just because people are ignorant of how

(04:01):
money works, does it mean you have to go out
and take advantage of them? Doesn't give you no, But
that's not capitalism. Okay, you're a bad person. What you
did was legal, but it doesn't make you a good guy,
does it. You're taking advantage, knowingly, taking advantage of people's ignorance.

(04:24):
And again I get all, there's no reason for people
to be ignorant. Okay, Okay, that's fine, I get that,
But why would you do that? You can't find a
better way to make a living anyway? Yeah, yeah, Usually

(04:46):
understand what it is, Okay, understand what it is. You're
taking advantage, knowingly taking advantage of people that are down
and out okay, might be desperate and getting them basically
well becoming a slave to you. Watchdog on Wall Street

(05:13):
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