Loan sharks still a problem here!

It was a problem. Now it is a scourge of the land. What happens, haven't the men in blue been chasing after them all these while? Oh, they are now very sophisticated. Maybe even smarter than our men in blue. So it is difficult to deal with them or wipe them out. I can't imagine how the home team is going to deal with the big syndicates when the IRs are operating if they can't even handle the loanshark problem. Maybe the loan shark syndicates also send their key personnel on scholarships to Harvard and Cambridge to outsmart our brightest. It is now a talent versus talent game. Wait till the IRs are open and we will have another new ball game.


Anonymous said...

Aiyoh, give the men in blue a break!

They have been very busy these few years running after white elephants and looking for Mas Selamat.

Men in white or men in blue, same same lah. Eat finish rice.

Anonymous said...

maybe police are gauged by KPI. Going after Ah long may only get them a D grade. So, of course don't waste time. Better spend more time on polishing their superior balls. Higher grade means more bonuses.

Zed said...

Interesting post, i have something to add. My grandmother's neighbour was having some loan shark problems (he didnt loan, but he acted as guarantor and the loaner defaulted) They came and did the usual (paint and stuff) and he made a police report. A detective was in the house doing investigation when the loan shark visited. The funny thing was the main door was closed, and the runner proceeded to padlock the gate... with the police still INSIDE! And the hilarious thing was... the detective spotted him from the window... but he managed to escape as the detective couldnt get out!

redbean said...

hi Zed, welcome to the blog.

the loan sharks and their runners have proven to be quite talented.

and they are a law in their own world. unbelieveable.

Anonymous said...

That's why they have to pay our men in blue even more to attract talents to catch the loan sharks.

The same argument is never out of date.

IMAGOD said...

Loan sharks are never a problem. The problem is govt licensing for monylenders effectively creating a "cartel" for those who qualify for a license. Those who don;t qualify for mony lending license are essentially "frozen out" of the market.

Ah Loong's provide a service for those who don't ant to or don't qualify for loans in the "legal" loan market. They Ah Loongs charge the required interest rate reflective of the risk that their "high risk" (re: bad financial managers) their potential customers are: dead-beats, inveterate gamblers, stylo-milo karaoke posers, small-time contractors trying to be "big time" etc.

No Ah Loong ever forces their customers to take on loans. In fact, people go looking for Ah Loongs to lend them money because even their own families apparently don't trust these fuck-carers with a loan.

God bless Ah Loong's for they are tending to the needs of the, and taking on the risk of fucked-up basket cases.

redbean said...

i can agree that ah long is providing an essential service, an alternative to the dead beat. what i am against ah long is that they vandalised and disturb those that are not involved in the borrowing, especially the neighbours and neighbourhood.

for these are crimes and they need to be arrested. not because of their money lending services. if they do it in their own private ways, it is a free market. yes, caveat emptor.

Anonymous said...

Blame it on those who are advocating the banning of eating sharks' fins. Now the shark population is out of control.

IMAGOD said...

redbean and his muddled thinking:

> what i am against ah long is that they vandalised and disturb those that are not involved in the borrowing, especially the neighbours and neighbourhood. <

What a confused and muddled mind you have. How do you make it through life?... anyway...

If that is the case, then is is not the Ah Loongs and their 'benevolent' service that is the problem. The problem is (so-called) 'vandalism'.

This is easy to solve, so easy most people won't even consider it:

All the HDB/strata councils and managements have to do is to provide a huge notice or black board where the Ah Loongs can post their "owe-money-pay-money [handphone number/ address] notices so as to shame the dead-beat "utang money no pay" low-level dumb asses - advertising their recalcitrance and making them lose face in the community.

Vandalism is defacing private or public property. Solution: provide a specific "property" for "expression".

Goonduz said...

Sometimes, we have to face the facts that a lot of such lenders have the mentality that when they ask to borrow money from others, they feel they are right and not returning borrowed money is also right. "Legal" lenders can use the law to get back their money but "illegal" ones can only apply their law. Imagine if they cannot apply any law....how to take back the money from such borrowers? It takes 2 hands to clap and I feel that something must be done in correcting the mentality of the people borrowing money and not just against the lenders. Even if no Ah longs, such people will think of ways to use their friend's advantage to their own profit of borrowing and I think that might be worse.... Hahahahaha!!!!

redbean said...

hi Goonduz, welcome to the blog.

I agree with your views, and matilah's that the loansharks have a social and economic role to play. the part that i find unacceptable is for them to go after family members, relatives and neighbours of the borrowers. if they can keep to just the borrowers, i will have nothing against them.

Abagale said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.



redbean said...

hi Abagale,

welcome to the blog and glad you enjoy reading.