Abstract
Caroline Weber of the University of Oregon reviews “Loan Sharks: The Birth of Predatory Lending,” by Charles R. Geisst. The Econlit abstract of this book begins: “Examines the early history of high-interest lending in the United States and demonstrates the connection between interest rates and social issues. Discusses a populist issue—resistance to “loan sharking” from the Civil War to the 1890s; a venerable practice—loan sharking and usury during the Progressive Era; the states attack—loan sharks, banks, and state interventions during the 1920s; the Crash as a credit event; and the Great Depression. Geisst is Ambassador Charles A. Gargano Professor of Finance at Manhattan College.”
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