Michael Lew’s new play, “Microcrisis,” explores the concept of microcredit, the process of taking out small loans, “micro” loans, and what happens when people take out so many loans that they can’t possibly pay back even over a lifetime, and what would happen if banks were unrestricted by laws and regulations in place.
The story starts off with a mysterious banker buying out two companies, and then proceeding to merge them to create MicroLoan, a loan company that provides instant credit to people without the need for credit checks, and other background checks. When people who can’t pay back the loans take them out, the deregulated banks start charging interest rates of about 30 percent.
MicroLoan also sucks dry their investors and donors, using registered phone numbers of previous donors and constantly calling them to fund “Hiking trips to Mexico” and other worthless things, which is all just a big ploy to hoard billions upon billions of dollars. [click to continue….]
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