Bizarre Press Releases and News Stories Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Bizarre Press Releases and News Stories

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: TimF	6/27/2009 3:34:25 PM
	of 824

Collateral in everything This is not in fact much of a lowering of credit standards: A financial company in Latvia is offering residents loans secured by nothing but their immortal soul. Riga-based firm, named Kontora, does not require credit history record or proof of employment. It grants loans of 50 to 500 Latvian lats ($100 to $1,000) to any adult after he or she signs the a very short agreement. According to the agreement, the only security required of the borrower is their immortal soul, which they are asked to confirm as their previously unmortgaged property. The loan is subject to one percent per day in interest until full repayment. The period of full repayment is 90 days, and in case the borrower fails to return the money, the creditor gets full possession of his soul. The full story is here. I thank cf for the pointer. Posted by Tyler Cowen on June 25, 2009 marginalrevolution.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next