He might be out of luck trying to find a soul on Wall Street but fortunately he’s doing micro-loans in Latvia. (Wall Street gladly takes handouts from average Americans to maintain their posh lifestyle, so clearly they are as soulless as they are selfish.) I’d love to hear the rate of faults later this year though micro-loans tend to have very high success rates. High interest rates tend to sound more like loan sharking than micro-loans but even a loan shark would probably ask for some other collateral. A new market is born.

Clients have to sign a contract, with the words “Agreement” in bold letters at the top. The client agrees to the collateral, “that is, my immortal soul”.

Mirosiichenko said his company would not employ debt collectors to get its money back if people refused to repay, and promised no physical violence.

Signatories only have to give their first name and do not show any documents.

“If they don’t give it back, what can you do? They won’t have a soul, that’s all,” he told Reuters in a basement office, with one desk, a computer and three chairs.

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