Friday, August 15, 2014

The underbelly of debt collection, as companies destroy one another


Here is an interesting bombastic "photo story" in the New York Times Friday, "Paper Boys: Inside the Dark, Extremely Lucrative World of Consumer Debt Collection," by Jack Halpern, link here. It seems as though collection agencies try to fool each other, setting up shell companies to steal each other's porfolios.

It also shows the risk that a lot of "street smart" businessmen have to take to make money.  Donald Trump would hire them.  

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