Expanding your knowledge in the African American Experience


Real Crime – No Government Protection to Jail Loan Sharks Today

Loan Sharking Alive and Well in America

While the White House and United States government touts and brags about protecting it’s citizens in foreign wars, it offer no protections for it’s citizens against high interest rate lenders. In New York Police arrest and kill American citizens for selling loosies, individual cigarettes from a pack because it’s against the law. Yet frivolous laws abound in the self-proclaimed land of the free, which is also the highest jailer of it’s citizens in the World.

Yet laws to protect it’s citizens against organize crime in the land of the free has now disappeared. Loan Sharking in America is alive and well today has interest rates as high as 706.08 percent! Desperate Americans in need of money are offered loans which will make them pay dearly and make them criminals if they refuse to pay.

Twenty-five state governments have passed laws to restrict or eliminate payday and high interest loans. Many of these state governments would like to do more and could with federal help.

Unfortunately the corrupt United States House and Senate, a group of mostly idiots foaming at the mouth for money do absolutely nothing to prevent organized crime from occurring. Instead they obstruct bills which try and protect the American people and pass laws to aid organized crime syndicates in victimizing American’s who are down on their luck.

Criminals mail loan offers to people saying, “You’re pre-qualified, Get $1,000, Cash as soon as tomorrow. Using the guise as being a part of an “Indian Reservation” gives them a license to commit crimes against Americans. Loan Sharking has never been a part of Indian culture, but criminals in organized crime knowing Indians have lived in poverty due to US policy have no shame in their game.

These criminals twists truths speaking of the benefits of being a weasel (misleading) and stealing millions of dollars from unsuspecting Americans as a good thing to do.

These criminals should be given long prison sentences, but instead are simply not investigated or slapped on the hand when convicted of such devastating crimes. State legislators should allow local police departments to pursue and arrest organized crime members who are in the loan sharking business. Grand Theft laws needs to be broken down into clearer components outlining Loan Sharking with strong sentencing on convictions.

States should not depend on the Federal Government due to the US House and Senate being too corrupt to even legislate crime.

States with anti-predatory lending laws are Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Maine, Maryland, Massachusetts, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah, West Virginia and Wisconsin. Citizen’s who live in states not listed should contact their state and local officials about creating loan sharking laws.

Sources: http://nativenews.jour.umt.edu/2012/stories/rocky-boys/, http://www.shouselaw.com/nevada/predatory-lending.html#4.1, http://www.loansharks.com/the-history-of-loan-sharks/, http://en.wikipedia.org/wiki/Predatory_lending, http://www.responsiblelending.org/payday-lending/research-analysis/State-Enforcement-Issue-Brief-10-4-FINAL.pdf, http://finance.yahoo.com/news/tribes-high-interest-online-lending-164851304.html;_ylt=A86.J7zBGf5T0FQA8ZkPxQt.;_ylu=X3oDMTByaDNhc2JxBHNlYwNzcgRwb3MDMQRjb2xvA2dxMQR2dGlkAw–

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