Here's a question, are these shady apps necessarily worse than the village loan shark which is where the desperate turn to money otherwise? To some extent, the

Here's a question, are these shady apps necessarily worse than the village loan shark which is where the desperate turn to money otherwise? To some extent, the market for no-questions-asked risky loans is similar to gambling, drugs and prostitution, it's a perennial vice that's impossible to stamp out. Is formalizing it better than not formalizing it?