How did the mob actually make money loansharking? Managing debt is actually really hard and requires a lot of brains.

How did the mob actually make money loansharking? Managing debt is actually really hard and requires a lot of brains. Not even the best fin ivy educated wizards in the world can manage distressed debt alone and stay in business for very long, and people going to wise guys are the lowest of the low in terms of credit worthiness. Plus, why even go to that extra step if you're a criminal anyway, why not just steal their car or whatever, why do to the extra steps in justifying it in a non legal way?

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  1. 3 weeks ago
    Anonymous

    if you owe money to the mob, you are going to pay it back, no nonsense allowed
    you are spectacularly moronic

    • 3 weeks ago
      Anonymous

      >be grease ball shark
      >loan tweaker client with no work history 10k
      >client doesn't want to pay
      >break his arm
      >now he can't work
      >whack him
      >you're now out 10k and you still have to kick up to superiors or you get whacked
      Doesn't sound simple to me at all. They are under similar pressures and a few write offs could get them in big trouble.

      • 3 weeks ago
        Anonymous

        >whack him
        >now all the other greaseballs who owe you money sudden find that the CAN actually pay you back this month after all haha no hard feels right Tone?
        >plus you get to take their car and stereo and the drugs they were buying instead of paying you back

      • 3 weeks ago
        Anonymous

        >loan tweaker client with no work history 10k
        Bad for business. Why would you do this? You think in israeli movie tropes. The tweaker would have to be a dealer or someone who can turn a profit somehow, who simply can't go to a financial institution. Breaking his arm is nothing, getting rid of a body just creates problems. But maybe people who do that regularly have a streamlined process.

        If you for instance were to loan money for drugs you can make them pay big for it. But they still make money hand over fist because it's a black market. In black markets most of your profits come from markups and you'd be amazed what you can get away with. Most importantly you only change hands with money. You get some of the profits without ever touching the shit or putting the work in. I assume that's how it works at least, my whole family is Anglo and I've only ever sold weed tbh.

      • 3 weeks ago
        Anonymous

        They don't loan random people money and they don't go around killing their marks. They typically prey on people with businesses, high value assets like cars/houses, etc. If you don't pay up they start adding extortionate levels of interest until they can leverage that debt to seize your shit/get you to cut them in on insurance fraud on your assets/use your business as a front/get you to help them commit credit card fraud on your customers/etc. You use intimidation and violence to get what you want, not for the sake of it.

        • 3 weeks ago
          Anonymous

          They don't lend money to crackheads, it's business owners and desperate family men with collateral. And most of them pay. And if they don't they take the collateral. Believe it or not loan sharks don't just go round breaking legs all day.

          Another classic I haven't seen mentioned is forcing their wives into prostitution, so they have prostitutes who won't complain or run away because if they do the gangs will hurt their husband or trash their home and traumatize their kids.

        • 3 weeks ago
          Anonymous

          It's typically business owners that loan sharks seek out.

          There's an entire storyline in The Sopranos about Tony giving his gambling addict high school friend a massive loan and then use that as justification to take over his business and run it into the ground while stealing everything that isn't nailed down and maxing out every credit card and legitimate loan possible. Same with Goodfellas, the whole "frick you, pay me" scene.

      • 3 weeks ago
        Anonymous

        more like
        >be grease ball shark
        >loan tweaker client with no work history 10k
        >client doesn't want to pay
        >rape him
        >he suddenly coughs up the money through grand larceny
        >as do all the others
        >you made a lot of money and lowered the property values, allowing for more tweaker clients

      • 3 weeks ago
        Anonymous

        you assume they loaned out fat wads of cash to any moron off the street, of course they'd look at a guy and see if there was other shit they might take if he had no cash, like cars, properties etc.

        same as banks really only mobsters break a couple of your fingers every week you don't pay on top of taking your stuff

  2. 3 weeks ago
    Anonymous

    It’s just a justification to steal shit as collateral and squeeze never-ending amounts of interest out of some poor schmuck. Actual legal lenders cannot break your legs if you don’t pay and they need to go through a lot of red tape before they can start taking your stuff. They also can’t extort your friends and family or continue pursuing the debt if you KYS. Excepting the part that it is illegal, illegal lending is significantly simpler than the legal way.

    • 3 weeks ago
      Anonymous

      Yes but why justify it? Also if you kill a guy you need 20 more to make back the principle you lost on the dude you whacked. If you break his legs or arms he can't work and can't pay you back.
      I think people really oversimplify how hard it was.

  3. 3 weeks ago
    Anonymous

    externally:

    protection and hired muscle for the shark

    internally:

    busting out the debtor

  4. 3 weeks ago
    Anonymous

    Make 'em an offer they can't refuse.

  5. 3 weeks ago
    Anonymous

    It's typically business owners that loan sharks seek out.

  6. 3 weeks ago
    Anonymous

    >Managing debt is actually really hard and requires a lot of brains. Not even the best fin ivy educated wizards in the world can manage distressed debt alone and stay in business for very long, and people going to wise guys are the lowest of the low in terms of credit worthiness
    You greatly underestimate them. Which is exactly why they managed to subvert your society in the first place.

  7. 3 weeks ago
    Anonymous

    Indebted junkies make great scapegoats. Staying out of jail is worth some heroin

  8. 3 weeks ago
    Anonymous

    They don't lend money to crackheads, it's business owners and desperate family men with collateral. And most of them pay. And if they don't they take the collateral. Believe it or not loan sharks don't just go round breaking legs all day.

  9. 3 weeks ago
    Anonymous

    >how did thugs make money by loaning cash at 1000% monthly interest rates
    it's a mystery anon.

  10. 3 weeks ago
    Anonymous

    Dagos do the dirty work, israelites do the books.
    Simple as

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