The best entrepreneurs solve the world’s most interesting problems in creative ways. And as we all experienced the past 3 years, none have been more interesting than the issues caused by the financial markets. While the sub-prime crisis was destroying the Lehman Brothers and AIG’s of the world, it was giving rise to an obscure industry that had managed to stay under the radar for decades – Poverty Inc.
Imagine the poorest of the poor needing a small advance on their paycheck and being charged 400% annual interest. Or a poverty stricken single mom paying 35% interest on a $500 credit card. And imagine that those same banks that caused the financial meltdown were amongst the biggest investors in such businesses; it’s shocking and true.
Former New York Times Columnist and current Daily Beast journalist Gary Rivlin reveals everything in his book “Broke, USA” and in my interview with him.