Hard working American’s of all socioeconomic strata are specifically targeted with financial products or services to make a fortune off those either living in chronic desperate times or experiencing sudden financial troubles.
The new book, Broke USA by Gary Rivlin, provides a welcome look inside the world of payday lenders and other fringe finance companies while supported by major Wall Street companies like Morgan Stanley.
Rivlin’s journey took him from pawnshops, rent-to-own, consumer finance companies, payday lenders, tax refund anticipation loans, and others to look at how people with the least wind up paying the most.
A payday loan is a bridge loan to cover a gap but the gap keeps getting wider and wider. – Woman from Dayton, OH
After listening to the interview I bought Broke USA to read on my iPad. I can’t wait to read every page.