Subprime Empire

In the decade since 2008 global financial crisis, much of debate has been over whom to blame: reckless speculative finance or irresponsible (often low-income) borrowers. This essay takes up this set moral arguments about what poor can and should be able afford by examining subprime logics at a scale: empire. Predatory lending in heartland America development-oriented microcredit places such as India Paraguay appear not just geographically disparate but also have different valences. After closer inspection, however, we argue that microfinance are two sides same coin. Our analysis allows us understand is happening “in-between” capital flows between investors By comparing financialization Paraguay, document theorize making empires rely on actors within marginal sites stabilize evaluative frameworks social interdependencies make profits flow. We forms capture conversion “financial in-between” reproduce imperial dynamics naturalizing limited expectations economic subjects south erasing violence inherent these redistribution maintain those such.