Have you heard of “pay day lenders” or “pay day loans?” These are the crooked insurance salespeople who set up shop outside military camps just waiting to rip off uninformed soldiers and sailors. They claim to offer quick cash and try to get these young people to take loans out against their paychecks. As a result, the soldiers and sailors would end up with huge debt and, therefore, were not allowed to serve because of it. Thankfully, Congress has seen the light and passed a cap on interest rates charged to our military personnel at 36 percent. Most people wouldn’t want a loan at 36 percent, but it’s been legal to charge as much as 400 percent interest. So, it’s a start. And come January 1, 2007 it will be against the law to charge ridiculous amounts of interest on loans. There is a cap in place. The pay day lenders have been talking about having to go out of business because of the new law. Clark says good riddance.