Spencer Bachus: “Well, let me ask you this: The IG said they couldn't trace some of this money, and I think we've all figured that out.…”

Those left on the short end can often be the people who have the greatest difficulty in getting any credit at all.

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

The program also can deny legitimate merchants access to financial networks they need to survive.

In a perfect world, there will be no payday lenders.