Trying to control the credit market is like trying to solve a problem like Maria (or trying to catch a wave upon the sand, kids etc.). At one end (OK, the bottom), payday lenders plugged a gap after the banks had to give up. The loansharks will be back now they, too, have been regulated away.
At the top(ish) end, lending by fund managers where banks won’t and packaging loans as investments to buy has definitely become a thing. Sound familiar? Watch ‘The Big Short’ again. Engine for growth or slippery slope?
