The Financial Journals globally blurt out everyday about the low rates of interest prevailing in the West. Here is an interesting case, tried by the United States Bankruptcy Court, Northern District of Georgia, Atlanta Division, Case No. 02-91845.
In the matter of Healing Touch Inc., Tamara Miles Ogier vs Synedra Smith Johnson.
Click: http://209.85.175.104/unclesam?q=cache:rDDQs1jfCUcJ:www.ganb.uscourts.gov/judges/opn/opn_view.php%3FId%3D222+flabbergast&hl=en&ct=clnk&cd=6.
The court's observation is worth noting:
"...Seven days after Defendant made the second loan of $30,000 to Debtor, it repaid the loan infull with interest in the amount of $4,500. That charge for the use of $30,000 for seven days worksout to an annual interest rate of 782%, which would flabbergast even the most avaricious loanshark. ..."
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