For capitalists, it worked great! For example, my grandparents sold a campground/mobile home park they built from scratch (with their son).
The sell price was $6 million. The terms of the loan was a floating interest rate, Prime + 4%.
Then Volcker comes in, decides to effectively float the prime rate, it shoots to 21% and my grandparents are clearing $1.5 million of interest income on a $6m loan every year… the damn monthly checks were $120k in interest.
Well, they would have earned that much had they not renegotiated the loan as to keep the purchasers solvent - in the end, my grandparents didn’t want the campground back, nor did they want a massive legal battle.