loansharks part II...
It came out in the papers again. This time in the opinions, forum section of the papers. Again the call to not criminalize borrowers came out again. Again, the reason being that it would drive the actives further underground. BUT, this time, they said that they didn't want to have borrowers needing to face another threat. They state that now, if borrowers don't repay their debt, loansharks can just threaten to to report the borrowers to the police. Somehow, I don't see how this works in favour of the loansharks.
Imagine this...
Loanshark: Owe money, pay money!!!!
Borrower: But I got no money, if I got money, need to borrow from loanshark meh?!?!?
L: Okie, then I report you to the police! Then you go and rot in jail!!! Muhahahahaha!!!
B: Great!!! In jail, the police will give me free lodging, food and most of all protection from you!!! And not like they can force me to cough out money I don't have.
Back to reality...
Furthermore, loansharks can only report the borrowers to the police. However, if they say, "Mr. Policeman, please arrest Mr. Tan Bo Lui. He borrow money from me, Mr. You Wan Lui. Make him return money to me. Thank you."
Since loansharking is still illegal, I'm sure the police will track you down and arrest you too. Hence, it makes no sense to report your debtors to the police.
I'm sure you all can think of other ways this will backfire for the loanshark. The loanshark can of course take this course of action.
L: Nevermind, I will continue to add your interest!! When you come out, you will owe me even more money!!!
B: Eh, which jail you go before got pay you money for squatting in a cell? When I come out, I still wouldn't have money...
Lastly, I would just like to say that loansharks is a colloquial word, nominalize form of the verb loansharking. The official word is illegal money lender, IML.
Imagine this...
Loanshark: Owe money, pay money!!!!
Borrower: But I got no money, if I got money, need to borrow from loanshark meh?!?!?
L: Okie, then I report you to the police! Then you go and rot in jail!!! Muhahahahaha!!!
B: Great!!! In jail, the police will give me free lodging, food and most of all protection from you!!! And not like they can force me to cough out money I don't have.
Back to reality...
Furthermore, loansharks can only report the borrowers to the police. However, if they say, "Mr. Policeman, please arrest Mr. Tan Bo Lui. He borrow money from me, Mr. You Wan Lui. Make him return money to me. Thank you."
Since loansharking is still illegal, I'm sure the police will track you down and arrest you too. Hence, it makes no sense to report your debtors to the police.
I'm sure you all can think of other ways this will backfire for the loanshark. The loanshark can of course take this course of action.
L: Nevermind, I will continue to add your interest!! When you come out, you will owe me even more money!!!
B: Eh, which jail you go before got pay you money for squatting in a cell? When I come out, I still wouldn't have money...
Lastly, I would just like to say that loansharks is a colloquial word, nominalize form of the verb loansharking. The official word is illegal money lender, IML.
posted by alvin_c at 9:32 am
1 Comments:
Probably the colloquial word is to show affection to the loansharks and closing up the social distance. Apparently, they are not that malicious right now.
But highlighting that they are originally Illegal money lenders thus make this whole thingy tricky.
Kudos to your post.
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