Chapter
The History of Loan Sharks
05:01 - 09:09 (04:08)
Small loans with high interest rates formed an endless cycle of debt for people leading to the term "loan sharks." Lenders used forceful methods to extract payment and secure their profits.
Clips
Loan sharks have been around for over a century, preying on vulnerable individuals in need of small loans with exorbitant interest rates that kept them indebted for their entire lives.
05:01 - 09:09 (04:08)
Loan Sharks
Summary
Loan sharks have been around for over a century, preying on vulnerable individuals in need of small loans with exorbitant interest rates that kept them indebted for their entire lives. The tactics of the salary lenders were forceful and brutal, often using intimidation and harassment to ensure payment.