fierce. such a long writing .
killing the loan
shark will not solve the problem.
Most transactions are actually quite smooth. Usually there is no
problem. But there are always some bad debts, which turn out
messy.
The loansharks will know how to keep close eyes on their lending
now. So there will be less hideous crimes.
People who borrow money make their own choices. So it is their
fault.
Hard to solve problem.
The runners and the loansharks ARE the true victims in this
issue
Sorry, I have no pity for the loansharks. It's ridiculous
interest rates that they imposed - 10-20% per month! And the guy
who asked for 1000 dollars gets only 800 dollars and pays back a
thousand in a month's time. The loanshark already collect 20%
profit upfront on the 1st hour. Woe if you roll over your loan. It
gets compounded PER MONTH! No pay and you get shit.
I do agree with you that the loansharks will be smarter now.
When there's money to be made, invention will be the mother of
necessity. They wont die out. But the guys who borrow aint likely
to stop, for wherelse are they going to find money? Rob, steal,
kidnap, murder?
Pawnshops are not solutions. The poor may not even have any gold
left to pawn, if they could afford it in the first place, and
usually, they are only worth 20% of its actual value upfront.
2nd hand stores pay even less for your household items.
Times arent exactly good now. The rich have acess to loans
anywhere inshore or offshore, and banks would serve right up to
their doorstep, BEGGING them to take loans. But not so for the
poor.
The rich had cut spending, and wages are still being
maintained at present levels although chances that it may rise
later. But for now, the poor and the less priviledge have no where
to turn to.
They are not asking for welfare or charity, but just a couple of
bucks to tide over some storm on the homefront. Thus their need and
desperation for loansharks.
My own pockets are not deep enough to help all, if even any at
all. It needs the full force of our society to help, and hell with
convention or excuses such as 'it is not the way things are
done in the world'. We create our own world here in Singapore,
where no one gets left behind, second to none.
