Wrongful Wonga?

This morning I read an article which criticised the existence of Wonga, the short pay-day loan company who charge over 5,000% interest. 

It was in the Metro and the article talked about the immoral activities of Wonga and blamed the company for making people worse off. It is also well known that lobby groups are seeking ways to shut the firm down.

Now before I begin, let me start by saying, I don't particularly like Wonga or the services they give but I find myself playing Devil's advocate.

The services carried out by Wonga are legal under current English law. Under a capitalist society, banks, firms, entrepreneurs are allowed to charge what they see as fit for the goods and services they provide. The UK being a mixed economy, does intervene when it needs too, e.g. taxing alcohol or making children's clothing VAT free. 

The next point is the morality of Wonga's actions. I don't see what gives me or any of us the right to call Wonga an immoral organisation. Immoral means "not conforming to accepted standards of morality" and thus is a notion that is subject to change and develop. Therefore, suggesting it has been immoral, doesn't mean that it doesn't conform to accepted morality (whatever that is) for present society today. I hate people judging, its the one thing that really gets to me. 

The next point is about shutting Wonga down. Wonga like any business would not exist had a market for its products not existed. If we shut Wonga down, another Wonga like institution will show itself because the bottom line is that demand for these pay-day loans at this ridiculously high interest rate do exist.

So what I am getting at , is that we are all free individual human beings who strangely make choices to use institutions like Wonga which be claim to be immoral and therefore, I don't think its fair to single out and blame Wonga because in the end it takes two to tango.