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Taming the Sharks: Towards a Cure for the High-Cost Credit Market
Taming the Sharks: Towards a Cure for the High Cost Credit Market chronicles the historic, economic. legal, and political factors breeding America's feverish high cost debt industry. The ideas presented are novel, progressive, and controversial. Historians have long argued that interest rates provide a sort of economic and political health of nations. If true, the contempo ...more
Hardcover, 451 pages
Published March 1st 2004 by University Of Akron Press
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Peterson uses stories, data and historical facts to show the rise of predatory lending institutions in America. It's a fascinating read. The story of the growth of the alternative banking industry is so troubling and it seems that it should be more discussed politically, but I think it's supporters are too powerful. For example, the average interest on a payday loan is 500% and usually people take these out to pay other loans--they stay indebted for at least 6 months on taking out very small amo ...more