Carruthers, Bruce G.; Guinnane, Timothy; Lee, Yoonseok - 2009
in the Department of Economics, Yale
University; Lee is assistant professor of economics, University of Michigan … the only way to have it done by legitimate business was to allow small-loan
lenders who could charge up to 3.5 percent … perception that borrowers were
hurt less by high interest rates than by other features of the “loan-sharking” business, such as …