Jamie Whyte appears on the BBC's Victoria Derbyshire Show
In the interview Jamie argues that intervention in the high-cost credit market will reduce the supply. There are good reasons why the interest rates are that high and it’s not that the lenders are actually making huge profits. If you say the interest rates can’t be that high, then these loans won’t be offered – the opportunities to use them will be lost and consumers will be worse off.
Watch the full interview here. Jamie’s segment begins at 1:13:00
Further IEA Reading: Improving Global Financial Services Regulation