So, our gahmen have finally realised that there’s a huge chunk of pie that they’ve yet to sink their teeth into… so they decided that it is not fair that only rich people are allowed to owe the bank money. They are now studying ways to allow poor people to owe the bank money through unsecured loans. Hmm… how does gahmen and bank link up leh? Well they own one of the largest bank here mah… now you connect the dots.

In the meantime, our state controlled media decides to find out how people feel about it… with an online poll…

There’s one problem though… it only have 3 choices to choose from on the likely outcome of this shit. I think it lacks one more choice. “More competitve rates from the banks and improved customer service of loansharks.”

Banks are already offering unsecured loans at exorbitant interest rates. When this market segment opens up, they will have to compete with the local loansharks, who offer unsecured loans at a slightly lower interest rates. Hence, the interest rates for unsecured loans will likely come down.

By opening this market segment to competition, loansharks too will be opened to competition from the banks. This means that they will have to repackage themselves. They will have to copy the banks and send threatening letter instead of hanging pig’s head and spray painting on lift walls.

So, there you have it. By allowing unsecured loans to low income earners, we will truly be on our way to becoming a true financial hub, with fantastic loans rates and good customer service.

There are fringe benefits too! Reduced vandalism in public places.