Archive for July, 2007

When Banks are Left to Their Own Devices…consumers Get the Hosed

Desperate for money, Jack contacts a money guy referred by his cousin Jerry for a temporary loan. The “VIG” is 25% per week. This is excessive and is an example of loan sharking. This is a criminal act. The terms are clear and it’s all spelled out with verbal communication. Pay as agreed or else.Draped [...]