MAY 6, 1993

Full News Archive

• Headline: ITT Corporation Sells Troubled Loans Portfolio. Impact: When ITT decided to sell off that $2.18 billion loan portfolio, it inadvertently set off a chain reaction that led to the rise of predatory lending practices. Fast forward a few decades, and we have a world where 'buy now, pay later' is a thing, and people are drowning in debts they can’t escape. Thanks, ITT!. Fact: Did you know that selling off troubled loans is basically the financial equivalent of passing the buck? Just ask the investors who thought they were getting a deal!.
• Headline: Reviving Stubborn Furniture Locks. Impact: By coaxing troublesome locks back into service, humanity inadvertently created a niche market for locksmiths—who then became the go-to heroes during family lockouts. Little did they know, this would lead to the rise of 'Emergency locksmith' memes and existential crises over forgotten keys.. Fact: Fun fact: The most common thing people forget before leaving their house is... you guessed it, their keys! Maybe we should just start leaving a spare under the welcome mat, but then again, that’s what burglars are for, right?.