(Tell-Tale Heart/Town Crier Ray Brandes takes up a karmic collection with 25 years’ interest.)
In the cafés of Madrid, in the outdoor flea markets of Barcelona, and along the beaches of the southern coast of Spain, everyone is talking about “La Crisis.” The Spanish economy is now faltering badly, on the edge of a recession brought on by the collapse of a building boom; an average household debt 120 percent above the gross domestic product; and an unemployment rate of over 10 percent, the highest in Europe.
One company, however, which employs a curious and uniquely Spanish trade, has seen its business surge in this environment of unpaid bills. El Cobrador del Frac, the “debt collector in top hat and tails,” exists to humiliate debtors, playing on their sense of public shame. For a percentage of the collection, you can have your debtor’s footsteps dogged by a man conspicuously dressed like Fred Astaire and carrying a briefcase emblazoned with his trade. It is a shrewd and imaginative premise: that people are quick to repay the money they owe when their indebtedness is paraded in public.
Read moreYou Never Give Me Your Money: IOUs and the Ché Underground