Tuesday, August 6, 2013

Commentary | Legalized Loan Sharks

In Malaysia we are familiar with dwelling places being splashed with red paints as a gift from the loan sharks to humiliate the dwellers to pay up their dues. They would also send people to their clients' work place to tell everyone about their lavish spending habits for those with credit cards debts or their landu attributes for the incorrigible compulsive gamblers.

Since loan sharks are illegal in Malaysia they operated on a very low profile and use the method of a credit card debt collector. They certainly would not accidentally beat their client to death as they used to in the long past because that will not recover their loans. Mental whipping in the form of humiliation in every conceivable form is the usual routine these days.

Here I go again with my schadenfreude tendencies. I think loan sharks being illegal here is bad but I have not seen the UK. These guys are legal but they operate above the law. They really hit below the belt by approaching those who are drunk. There is more on XingCai's Gambling Tales.

4 comments:

  1. Loan sharks are simply bad news. Legalized loan sharks or scarier.

    ReplyDelete
    Replies
    1. The problem with law making is monitoring it for abuse.

      Delete
  2. Imagine a bandit walking around with a marshal's badge. Don't just confiscate the badge, bring them to justice.

    ReplyDelete
    Replies
    1. Bandits will terrorized the citizens with the blessings of the law if the law is blind.

      Delete