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The I.M.F.'s repeated loans to Russia in the 1990's are almost universally seen as failures.
You might think these companies are making enough money from their usurious interest rates, but the center's report makes it clear that payday lenders are dependent for profits on borrowers who take out repeated loans: The leading payday industry trade association — the Community Financial Services Association (C.F.S.A).
As for the rest, whose careers get lost sometimes for years in a sort of footballing black hole of repeated loans, they get filed away as collateral damage.
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The commission's research, which so far has involved interviews with customers and analysis of 15m loans worth £3.9bn taken out between 1 January 2012 and 31 August 2013, suggests that once someone becomes a payday loan customer they are likely to take repeat loans.
"The repeat loans where people are going back month after month, either paying off in full and borrowing again or paying the interest only on a loan.
It also says that attractive unit economics are driving expanded margins, with the margin per loan in 2017 rising from approximately 20% for the first loan, to ~57% for repeat loans in the UK.
More than one in three people with children under 10 said their children had repeated payday loan ad slogans to them, a recent survey showed.
Juninho is finally a permanent signing after repeat loan spells, but there's a question mark over his creativity/industry ratio.
Mao Rattha, a credit officer there, says an average of four people a day come in for a new or repeat loan.
It would also limit the number of "points" lenders can charge to 6percentt of the loan amount, prohibit repeated refinancings and prohibit loans to people who do not have the means to repay them.
In a survey quoted today by Mr Miliband, the consumer advice website found that more than one in three parents with children under 10 had heard their kids repeating payday loan ad slogans.
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