In to day news, a woman was threaten by loan shark that if she did not settle the loan outstanding due to them, they would take possession of her household items to compensate for their losses. If the amount is not enough, they might "take care" of her children until she paid all.
What happened here is that the woman is not the person who took the loan, she is just a guarantor who because of her kindness and soft heartiness to help her friend who beg her for the guarantee to took the loan. Now she is deep trouble when her friend fled away.
If you think this is strange and the woman being stupid enough to guarantee for a loan shark loan. Then what about this, a couple of year ago, a contractor was able to use his last influence to secure a government contract worth tens of millions of dollars. But due to his bad credit and reputation, he was not able to find any bank to finance him, so he resort to high interest loan, need less to say, old habit die hard and the high interest loan company only interested in his money not helping him to run the project, so he go broke again.
Talk about stupidity, did he knew that there is venture capital company like Venture Alliance Partners who not only can finance the project, but also can help to manage the fund, cashflow and even provide consultancy support.
If the woman ignorant is stupid, then the contractor is just plan idiot!
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