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Broke, USA: From Pawnshops To Poverty, Inc. - How The Working Poor Became Big Business (2010)

by Gary Rivlin(Favorite Author)

3.69 of 5 Votes: 3

ISBN

0061733210 (ISBN13: 9780061733215)

languge

English

genre

History & Biography

publisher

HarperBusiness

review 1: Payday loans, rent-to-own centers and pawn shops in working poor neighborhoods,built to exploit the working class is the focus of this well-researched book. It's a compelling subject in the aftermath of Wall Street crash, the credit default swaps and the housing crisis. This is a depressing book and a thorough account of how the working poor are exploited in this country. One of the shocking realizations for me was the number of people who are beyond the regular banking system and are forced to use payday check cashing centers because there isn't any alternative in this country. It's outrageous that they are allowed to charge predatory interest rates. I gave this book three stars instead of four because the writing was often boring, too much backstory about characte... morers that took me off course. Also the author's descriptions of all the characters slowed the pace of the book. Dressed smartly, brown hair, angular features, pug nose, slumping shoulders --I just got tired of the descriptions. What I'd like to hear next is how the working poor are exploited by hospital prices and health insurance companies.
review 2: Before reading this book I never thought much about the Liberty Tax store around the corner from my house, or the fancy Money Store type of place over by the mall. This definitely opened my eyes to the ways businesses take advantage of people without many other options, or people who don't realize they have other options.The only criticism I have of the book is that it frequently relies on the outrageous profits the businesses pull in. As a progressive, I understand the point is that if there are outrageous, exorbitant profits there is likely fraud happening at some level. Readers who are more of the pro-Capitalism (not that I'm strictly anti-) ilk might find the arguments weak because the author uses this short cut a lot (mega-profits equals proof they're doing shady things).Still, he does a good job of reporting what is actually happening. He also does a fine job of painting the characters of the story while giving the reader facts. less

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