Friday, March 02, 2012
So You Think You Hate Debt Collectors?
In a horrific incident in Bihar's Arwal district, about 80 km from Patna, a 20-year-old daily wage worker had to pay a heavy price for failing to pay a debt of Rs 300. The daily wage worker, Ram Sagar Chandravanshi, was attacked and one of his hands chopped off after he refused to work for free for a couple of contractors in lieu of Rs 300 that he owed a money lender.This is India. File it under the problems with micro-lending. That's approximately 6 US dollars.
All the old evils are still out there, waiting for us to stray away from the campfire.
This is one of the reasons that I could never be a libertarian. There's always a group of people that really like it out there beyond the circle of the firelight.
They hacked at his other hand, too. Clearly the idea was that if you won't work for free to pay off your debt, you won't be working at all. One presumes that the object lesson will be learned - I assume the small debt collection rate in Bihar is arcing right up.
But such things should not happen.
The man's hands weren't chopped off for $6.00 USD. The man's hands were chopped off to make sure that others did not refuse such an excellent refinancing deal.
Reminds me of a Monty Python sketch:
Customer: This policy says something about filling my mouth in with cement.
Insurance Saleman/Mobster: Oh, that's just insurance jargon!
WV: ibust. Sounds like a new Apple product!
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