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008			240724s2017 xx o ||||0 eng d
020			_a9780815729013 _q(electronic bk.)
020			_z9780815729006
035			_a(MiAaPQ)EBC4551759
035			_a(Au-PeEL)EBL4551759
035			_a(CaPaEBR)ebr11329223
035			_a(CaONFJC)MIL989716
035			_a(OCoLC)952139309
040			_aMiAaPQ _beng _erda _epn _cMiAaPQ _dMiAaPQ
050		4	_aHG3756.U54.G453 2017
082	0		_a332.83097309041
100	1		_aGeisst, Charles R.
245	1	0	_aLoan Sharks : _bThe Birth of Predatory Lending.
250			_a1st ed.
264		1	_aBlue Ridge Summit : _bBrookings Institution Press, _c2017.
264		4	_c©2017.
300			_a1 online resource (275 pages)
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
505	0		_aFront Cover -- Front Flap -- Title Page -- Copyright Information -- Table of Contents -- Preface -- A Populist Issue -- A Venerable Practice -- The States Attack -- The Crash as a Credit Event -- The Great Depression -- Postscript -- Notes -- Index -- Back Flap -- Back Cover.
520			_aPredatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from the Civil War to the onset of the early decades of the twentieth century. Newspapers called the practice "loan sharking" because lenders employed the same ruthlessness as the great predators in the ocean. Slowly state and federal governments adopted laws and regulations curtailing the practice, but organized crime continued to operate much of the business. In the end, lending to high-margin investors contributed directly to the Wall Street crash of 1929. Loan Sharks is the first history of predatory lending in the United States. It traces the origins of modern consumer lending to such older practices as salary buying and hidden interest charges. Yet, as Geisst shows, no-holds barred loan sharking is not a thing of the past. Many current lending practices employed today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the end of the nineteenth century. Geisst demonstrates the still prevalent custom of lenders charging high interest rates, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not disappeared a century and a half after the predatory practices first raised public concern.
588			_aDescription based on publisher supplied metadata and other sources.
590			_aElectronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
650		0	_aUsury--United States--History.
655		4	_aElectronic books.
776	0	8	_iPrint version: _aGeisst, Charles R. _tLoan Sharks _dBlue Ridge Summit : Brookings Institution Press,c2017 _z9780815729006
797	2		_aProQuest (Firm)
856	4	0	_uhttps://ebookcentral.proquest.com/lib/orpp/detail.action?docID=4551759 _zClick to View
999			_c111957 _d111957