Business Commons^™

Taming The Sharks: Towards A Cure For The High Cost Credit Market, Christopher L. Peterson

University of Akron Press Publications

Taming the Sharks: Towards a Cure for the High Cost Credit Market chronicles the historic, economic, legal, and political factors breeding America’s feverish high cost debt industry. The ideas presented are novel, progressive, and controversial. Historians have long argued that interest rates provide a sort of economic and political health of nations. If true, the contemporary American market for credit shows troubling signs of distress. While Federal Reserve Board monetary policy has kept commercial and prime consumer interest rates low, the past two decades have seen explosive growth in an industry specializing in high-cost consumer debt. Payday loan outlet chains, …