Gothamist: Loan Sharks Discuss the Subprime Crisis

BMMDan

Tue, 14 Oct 2008 09:43:34 -0500

can someone help me understand this line? "Tanda, a "mid-level loan shark" has raised lowered his interest rates by 50% recently" Raised lowered? What the hell does that mean?

NannyState

Mon, 13 Oct 2008 22:36:08 -0500

I swear my broker at Legg Mason is padding the vig.

Kojak

Mon, 13 Oct 2008 13:24:21 -0500

I'm sure thats just an example. Loan Sharks don't deal unless its big G's. 100 dollar loans are a pain to keep track of. Its not a good use of resources to send the goons to bust knee caps just for one Benji.

angry_pickle

Mon, 13 Oct 2008 12:24:10 -0500

$50/week for a $100-$200 loan? I think only drug addicts would take that loan.

JacqueMehoff

Mon, 13 Oct 2008 12:15:34 -0500

they make loans on $100?????? lemme guess they usually hang out in front of OTB for a sucker with a sure thing.

Rob T Firefly

Mon, 13 Oct 2008 12:09:13 -0500

Every aspiring journalist needs to keep some nice, completely unverifiable yet scary stories like this typed up for slow news days. Now excuse me, I have to get back to interviewing my action figures about what it's like to be in the mafia.

ides_of_march

Mon, 13 Oct 2008 12:08:23 -0500

Freddie Mac the Knife.

r1b2

Mon, 13 Oct 2008 12:02:08 -0500

And of course as credit dries up even further, it's all good for this fellow.