The Economics of Everyday Things

47. Bail Bonds

May 6, 2024
Explore the world of bail bonds with sociology professor Joshua Page and defense attorney Steven Zalewski. They discuss the economic motivations behind the bail industry, the impacts of cash bail reform in New York, and the challenges faced by families in the legal system. Delve into the intricacies of bail bond strategies, tracking down bail skippers, and the changing landscape of the bail industry.
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ANECDOTE

Bail Bonds' Wild West Origins

  • Bail bonds date back to the Wild West, when two brothers began fronting money for criminals.
  • This profitable business spread, becoming a fixture in the American justice system.
INSIGHT

Bail Bonds as Insurance

  • Bail bond companies operate like insurance agencies, providing promissory notes for defendants' release.
  • They charge a fee, usually 10% of the bail, and may take collateral like property or jewelry.
INSIGHT

Women as Co-signers

  • Women, often mothers or spouses, are the primary co-signers for bail bonds due to perceived loyalty.
  • Bail agents target them, offering support and leveraging relationships with attorneys.
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