A loan for a lumpen: how an American made $ 3 billion on problem borrowers

Already in his youth, a resident of Los Angeles Don Hankey began to earn good money: the young man worked as a stock broker. He studied finance at the University of Southern California, but decided not to graduate from the master's program - he wanted to start earning as soon as possible. However, the broker's career did not bode well. A sad event helped to change the sphere. The father of the young man had 25% in the salon that sold Ford cars. After his father died, the car dealership began to make losses and by 1972 was on the verge of closing. To improve the situation, Hankey took a vacation at his own expense and started a new business.