Merchant of Venice

Why does Shylock insist on the punishment for forfeiting the bond?

Act 3 scene 3

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Antonio pleads with Shylock to listen to him, but Shylock says, "I have sworn an oath that I will have my bond," (3.3.4) and refuses to listen to any of the pleas for mercy. After Shylock departs, Antonio tells Solanio that Shylock hates him because he used to loan money to men who were in debt to Shylock, thus preventing Shylock from collecting the forfeiture. Antonio is prepared to pay his "bloody creditor" the next day in court, but prays that Bassanio will arrive in time to watch him die. Shylock wants his bond because, in part, he has been the source of so much ridicule by Christians such as Antonio. While being reviled for being a Jew and lending money for profit, he has been asked for money by the very people who persecute him.