Friday, December 18, 2009

Legalized Loan Sharking Japanese Way

"First-time visitors to Japan may notice "consumer finance" companies occupying prime real estate around nearly every train station. But few visitors realize these lenders inhabit the world's most vibrant legalized loan sharking market, where seven million consumers pay interest rates that can exceed 25% annually, a usurious figure by most standards."

Tim Clark and Carl Kay: Saying Yes to Japan (2005)

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