Are any ILLEGAL loansharks still in business?

[jmowreader]

It doesn't seem like there would be a need to shark loans anymore. Now we have Payday Loans and Credit Cards, which give the formerly criminal lenders the chance not only to clean up their acts and become Pillars of their Communities, but to make more money than they did before.

On edit: Credit card companies, payday loan stores, title loan stores and pawnshops aren't loansharks, even though no self-respecting loanshark would have the balls to charge the interest rates they do. So stop saying that.

[BlooInBloo]

1. I assume money tree and all of them are doing just fine.

[Tangerine LaBamba]

2. Like The Mob?

I'm sure there are still the local lenders, and, lately, their rates are favorable to those offered by the payday loan places and credit card companies.

[Donnachaidh]

3. you forgot to mention Title Loan companies

Those f*ckers are all over the South. Puts the loansharks to shame. :puke:

[jmowreader]

6. I think you understand where I'm coming from

In our wonderful deregulated loan industry, you can make more money with a legal loan business than you can with an illegal one.

[Blue-Jay]

4. I know "some guys" who will make you a deal.

[drmeow]

5. I suspect among immigrant communities

there may still be loansharks - recent immigrant, especially illegal immigrants, may not even feel comfortable going to payday loan places.

When I read your subject - before I read the body - my reaction was going to be "Yes, they are called Payday Loan/Title loan stores."

[2Design]

7. all credit card companies and banks are now official loan sharks

[OhioChick]

9. They sure are. n/t

[Confusious]

8. Yes there are

Called Bank of America, Citi, Chase, Wells Fargo, Discover, MNBA, etc etc etc

[MrPerson]

10. I don't know nuthin about dat.

[MrSlayer]

11. Certainly.

Their rates are actually better than credit card companies.

[madamesilverspurs]

12. Legal doesn't necessarily mean moral, does it?

Check out the "deals" at the rent-to-own stores. Especially love the ones that have their own payday loan section. Predation has lots of inventive mothers, yes?

[Hannah Bell]

13. Business & gov are taking over all the old mafia rackets: loan sharking, the numbers (lotteries),

gambling, porn, dope (big pharma) -

what's left for the criminals? i guess they've merged with biz & gov.

oh, i forgot the protection rackets (insurance)

[BlooInBloo]

14. Well of course there's the loanshark to be feared above all others....

http://www.youtube.com/watch?v=_AJ0SkbPxAk

http://www.youtube.com/watch?v=EuAVgWJ28Hw

[jmowreader]

17. I freakin' HATE Family Guy!

And Stewie is the biggest reason why.

[izquierdista]

15. The same thing that happened to gambling

Las Vegas was the best thing that ever happened for East Coast numbers runners and bookies. Instead of having to bribe the police and fear getting whacked by a competitor, they moved out west, got legitimacy and sunshine.

It's the same with loan sharking. The Repubs carefully took the state laws against usury off the books and now crooks don't have to watch out for the cops, they can call the cops when a customer starts causing trouble.

[DFW]

16. I heard there was one still operating in Providence, RI

He's in his early nineties now, and his goon enforcers are all dead except for two
guys in their 80s whose eyesight is fading. Supposedly, the RI state government was
planning to declare his place of business a State Monument so as to preserve
the memory of days when loansharking was the sole preserve of outlaws.

(Full disclosure: this post may contain either sarcasm or slight exaggerations)