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Northwest Voices

Seattle Times letters to the editor

June 1, 2009 at 4:30 PM

Malaysia loan sharks

Cruel treatment for desperate borrowers

The article “Malaysia loan sharks chain men to wall for months” [seattletimes.com, Nation & World, May 27] stated that the debts the two people owed were between $400 and $1,100. The banks wouldn’t give them loans, so they went to borrow money from a loan shark.

If one is willing to pay a loan with a 40 percent interest rate, it obviously means he is desperate for money. The problem is that people lose sight of humanity when they get caught up in making money. People have this capitalistic mindset that they need more money and can never have too much.

These Malaysian loan sharks are going after the borrowers by threatening violence to get their money back. Banks are refusing to lend to “unqualified” people, when in fact most of the time those people are the ones who need the loan money more than the “qualified” ones.

How unfortunate for those people who got locked up, and how unfortunate for us all to be in a world that lets this happen.

— Peter An, Bellingham

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