This will be part of a series of posts exploring my opinions on the new-age, hip, and ultra-cool loan sharks that now, more than ever, prey on the vulnerable and poor with impunity.
Sean and Greg. Two regular pastel backed cool dudes, living it up in sunny Queensland Australia. Getting rich off others getting poor.
Here is a list of perceived mental gymnastics that loan sharks use to escape that awful gut feeling that their entire business model is that of pariah, and that the only thing worse than being a loan shark, would be in charge of advertising a loan shark and cleverly devising ways to entice people into their own demise.
Loan Sharks avoid legislation designed to protect the vulnerable.
Governments make regulations in response to consumer groups and social welfare groups that constantly have to put up with victims of loan sharks. These (often) volunteer groups have to dig people out of holes and save lives (sometimes).
Debt and money are stresses on relationships and are often hidden behind shame.
Loan sharks in any parlance – small loan dealers, pay day loans, micro loans, silly little loans, miny debts, hipster-folding-stuff, money for jam, trinkets..
Loan sharks respond by thinking up clever ways of charging more.
A business is a business to make money. Income for the business increases when loans are not paid, interest accrues, and late fees pile up. An increase in defaults increases profit. Do we need to go on?
Some people need loan sharks
False. I don’t imagine many people earning $150,000 are really in desperate need of $500 for a 16 day loan?
— of course not, most people with incomes have credit cards.
So, the people who need short term loans, often can’t get credit cards, have too much credit card debt and need a loan to pay it off, or are opposed to credit cards for a financial, or spiritual reason.
Actually I do fit into the above category, never had a credit card.
Credit cards are almost always cheaper and charge less interest. Credit card companies don’t usually give credit to the unemployed, yet loan sharks don’t discriminate against anyone’s situation. If you’re breathing, you’re game.
Loan Sharks provide a safe service to those who need it
What happened before big-time loan sharks with slick marketing and ultra-cool appeal?
Loan sharks have never been safe. They do not care about you, no matter how well the advertising and marketing goons work. Charity, these are not.
Loan Sharks might be safer than more primitive and ancient forms of loan sharks, but that in itself is not an argument. It’s like saying modern bloodletting is safer because they now sterilise the entry wound.. I’m sorry, but bloodletting only causes a ridiculous loss of blood, just like loan sharks cause a ridiculous loss of money.
If it isn’t obvious by now, I loathe loan sharks. The ability for somebody to fool themselves into thinking they aren’t preying on the poor and vulnerable is astonishing. But why? Why do I care? They don’t pose a threat to me.
Everyone for themselves – The Free Market
I was fortunate to be born into a society and social class surrounded by money, education, books, and supportive social structures. Fortunately for myself, I was born to a family comfortably in the majority. Due to no effort of my own, I enjoyed physical health, great schooling, pleasant friends, kind neighbours, and a community of pretty much the same skin colour and sexual preference.
This is what is called privilege. It isn’t usually obvious, especially when life has been fine and dandy, as mine has. It has taken a level of awareness to realise just how good I had it. Unfortunately most people of privilege don’t realise how lucky they are, or are so insecure they view any privilege as an attack on their perceived ‘efforts’ to ‘get where they are’. Unfortunately life is pretty random, and if you got dealt a good hand, that is luck, not karma, chi, god, buddah or any other bullshit.
The ‘chance argument’ always escapes the libertarian, free market liberal, the unscrupulous, the narcissistic and the sociopath. Being born wealthy is not an achievement, and being born into disadvantage is not a curse that is deserved. (another reason to throw fuming hate on ‘karma’)
A rational thinker will often invoke the Veil of Ignorance to blindside the ignorant with a bit of basic philosophy. 
Design yourself a society and imagine there is no way of telling how you will be born. You might be tall, short, paraplegic, gay, blind etc.
How will the social system work if you don’t know what your lot in life will be?
Would you cut out welfare or disability payments if you might end up being born unable to think and read like you are right now?
Sean Teahan and Greg Ellis, Sami Malia, and especially Lisa Mainelli (Legal – who should know about Ethics as it is compulsory every year to do so)
In my opinion you are loan sharks, and the deceptive and misleading way you go about your chosen business model makes Mother Teresa‘s missionaries seem like the height of charity and goodwill. ( hint – they weren’t )
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