Unavailable
Unavailable
Unavailable
Ebook393 pages3 hours
Shortchanged: Life and Debt in the Fringe Economy
Rating: 4 out of 5 stars
4/5
()
Currently unavailable
Currently unavailable
About this ebook
Drive through just about any low-income neighborhood and you're sure to see streets lined with pawnshops, check cashers, rent-to-own stores, payday and tax refund lenders, auto title pawns, and buy-here-pay-here used car lots. We're awash in "alternative financial services" directed at the poor and those with credit problems. Howard Karger describes this world as an economic Wild West, where just about any financial scheme that's not patently illegal is tolerated.
Taking a hard look at this fringe economy, Karger shows that what seem to be small, independent storefront operations are actually part of a fully-formed parallel economy dominated by a handful of well-financed corporations, subject to little or no oversight, with increasingly strong ties to mainstream financial institutions. "It is a hidden world," Karger writes, "where a customer's economic fate is sealed with a handshake, a smile, and a stack of fine print documents that would befuddle many attorneys."
Filled with heartbreaking stories of real people trapped in perpetual debt, Shortchanged exposes the deceptive practices that allow these businesses to prey on people when they are most vulnerable. Karger reveals the many ways this industry has run amok, ruining countless people's lives, and shows that it's not just the poor but, more and more, maxed-out middle class consumers who fall prey to these devious schemes.
Balancing compassion with a realistic awareness of the risks any business faces in working with an economically distressed clientele, Karger details hard headed, practical recommendations for reforming this predatory industry.
Taking a hard look at this fringe economy, Karger shows that what seem to be small, independent storefront operations are actually part of a fully-formed parallel economy dominated by a handful of well-financed corporations, subject to little or no oversight, with increasingly strong ties to mainstream financial institutions. "It is a hidden world," Karger writes, "where a customer's economic fate is sealed with a handshake, a smile, and a stack of fine print documents that would befuddle many attorneys."
Filled with heartbreaking stories of real people trapped in perpetual debt, Shortchanged exposes the deceptive practices that allow these businesses to prey on people when they are most vulnerable. Karger reveals the many ways this industry has run amok, ruining countless people's lives, and shows that it's not just the poor but, more and more, maxed-out middle class consumers who fall prey to these devious schemes.
Balancing compassion with a realistic awareness of the risks any business faces in working with an economically distressed clientele, Karger details hard headed, practical recommendations for reforming this predatory industry.
Unavailable
Related to Shortchanged
Related ebooks
In the Shadows of Justice: Memoirs of a Bail Bond Agent Rating: 0 out of 5 stars0 ratingsInside Montana Politics: A Reporter's View from the Trenches Rating: 0 out of 5 stars0 ratingsAdministrative Aspects of Investment-Based Social Security Reform Rating: 0 out of 5 stars0 ratingsBusiness Bliss?: Ignorance: Liability or Bliss Rating: 0 out of 5 stars0 ratingsLife Within a Big Box: The Perspective of a 25-Year Retail Associate Rating: 0 out of 5 stars0 ratingsMacroeconomics and Development: Roberto Frenkel and the Economics of Latin America Rating: 0 out of 5 stars0 ratingsState of the Union Addresses Rating: 0 out of 5 stars0 ratingsStanding on Principle: Lessons Learned in Public Life Rating: 0 out of 5 stars0 ratingsDefending Your Home Rating: 0 out of 5 stars0 ratingsThe Complete Guide to Your First Rental Property A Step-by-Step Plan from the Experts Who Do It Every Day Rating: 0 out of 5 stars0 ratingsTocqueville's Political Economy Rating: 5 out of 5 stars5/5How to Know if Your Stockbroker Is Ripping You Off: And What You Can Do About It Rating: 0 out of 5 stars0 ratingsHistory of the United States (Serapis Classics) Rating: 0 out of 5 stars0 ratingsThe Irresistible Growth Enterprise (Review and Analysis of Mitchell and Coles' Book) Rating: 0 out of 5 stars0 ratingsBusiness Is the People & People Are the Business: Break One and the Other Will Break, How Ethics and Etiquette Protect Both Rating: 0 out of 5 stars0 ratingsPrincipled Living Rating: 0 out of 5 stars0 ratingsSwindled: If Government is ‘for the people’, Why is the King Wearing No Clothes? Rating: 5 out of 5 stars5/5Financial Stability: Fraud, Confidence and the Wealth of Nations Rating: 0 out of 5 stars0 ratingsNew York City Mutual Savings Banks, 1819-1861 Rating: 0 out of 5 stars0 ratingsHidden Money: Productivity and Process Improvement Rating: 0 out of 5 stars0 ratingsMoney for Nothing: How CEOs and Boards Enrich Themselves While Bankrupting America Rating: 3 out of 5 stars3/5Property Taxes and House Values: The Theory and Estimation of Intrajurisdictional Property Tax Capitalization Rating: 0 out of 5 stars0 ratingsHard Sell: Work and Resistance in Retail Chains Rating: 0 out of 5 stars0 ratingsSummary: The Conscience of a Libertarian: Review and Analysis of Wayne Allyn Root's Book Rating: 0 out of 5 stars0 ratingsBroken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street Rating: 3 out of 5 stars3/5Solomon's Knot: How Law Can End the Poverty of Nations Rating: 4 out of 5 stars4/5Summary of Michael Eric Dyson's Jay-Z: Made in America Rating: 0 out of 5 stars0 ratingsThe time machine of adolf hitler Rating: 0 out of 5 stars0 ratingsThe Game: How the World of Finance Really Works Rating: 5 out of 5 stars5/5
Politics For You
Daily Stoic: A Daily Journal On Meditation, Stoicism, Wisdom and Philosophy to Improve Your Life Rating: 5 out of 5 stars5/5The Great Reset: And the War for the World Rating: 4 out of 5 stars4/5Speechless: Controlling Words, Controlling Minds Rating: 4 out of 5 stars4/5The U.S. Constitution with The Declaration of Independence and The Articles of Confederation Rating: 5 out of 5 stars5/5The Parasitic Mind: How Infectious Ideas Are Killing Common Sense Rating: 4 out of 5 stars4/5The Real Anthony Fauci: Bill Gates, Big Pharma, and the Global War on Democracy and Public Health Rating: 4 out of 5 stars4/5Get Trump: The Threat to Civil Liberties, Due Process, and Our Constitutional Rule of Law Rating: 5 out of 5 stars5/5The Girl with Seven Names: A North Korean Defector’s Story Rating: 4 out of 5 stars4/5Why I’m No Longer Talking to White People About Race: The Sunday Times Bestseller Rating: 4 out of 5 stars4/5The Republic by Plato Rating: 4 out of 5 stars4/5Disloyal: A Memoir: The True Story of the Former Personal Attorney to President Donald J. Trump Rating: 4 out of 5 stars4/5Blackout: How Black America Can Make Its Second Escape from the Democrat Plantation Rating: 4 out of 5 stars4/5Son of Hamas: A Gripping Account of Terror, Betrayal, Political Intrigue, and Unthinkable Choices Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5The January 6th Report Rating: 4 out of 5 stars4/5The Devil's Chessboard: Allen Dulles, the CIA, and the Rise of America's Secret Government Rating: 5 out of 5 stars5/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5The Only Plane in the Sky: An Oral History of 9/11 Rating: 5 out of 5 stars5/5This Is How They Tell Me the World Ends: The Cyberweapons Arms Race Rating: 4 out of 5 stars4/5Fear: Trump in the White House Rating: 4 out of 5 stars4/5No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State Rating: 4 out of 5 stars4/5Ever Wonder Why?: and Other Controversial Essays Rating: 5 out of 5 stars5/5The Madness of Crowds: Gender, Race and Identity Rating: 4 out of 5 stars4/5Elite Capture: How the Powerful Took Over Identity Politics (And Everything Else) Rating: 5 out of 5 stars5/5Gaza in Crisis: Reflections on the U.S.-Israeli War on the Palestinians Rating: 4 out of 5 stars4/5The Cult of Trump: A Leading Cult Expert Explains How the President Uses Mind Control Rating: 3 out of 5 stars3/5How to Hide an Empire: A History of the Greater United States Rating: 4 out of 5 stars4/5
Reviews for Shortchanged
Rating: 4.166666666666667 out of 5 stars
4/5
6 ratings1 review
- Rating: 3 out of 5 stars3/5Good introduction to the financial services available to the poor in America, which mostly, according to Karger, border on predatory lending. Since it is about finances and figures, not quite as readable as Ehrenreich's Nickel and Dimed, a book which comes to mind. A glossary is provided at the end, which is helpful.