In trouble times like these, the only people who are not hurting are the mafia and loan sharks. Research says Italy's banks have limited their lending to small and medium- sized business, which result in more businesses in debt and bankruptcy.
In the Washington Post article, small business owners are falling victims to loan sharks because they are the only ones willing to lend money, but with a 120 percent annual interest. Organized crime becomes stronger within the economic crisis, which results in a weaker state say Gian Maria Fara, the president of Eurispes, a private research institute.
Banks are to blame for the increase in organized crimes. If the banks were more lenient people would not have to be associated with the mob for money lending purposes that result in outrageous paybacks.
-by Sun Kim
3 comments:
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