CONSUMER CREDIT IN AMERICA GOING INTO COMPLETE DISARRAY?
CNBC's On the Money says there is ad hoc evidence that card companies are close to "red lining" people, implying that the downturn will increase the divide between rich and poor.
They even tell of card companies canceling cards for "inactivity".
Last, and really quite eye-popping, they suggest that some people may be targeted for credit card attention if they live in a zip code with a lot of foreclosures.
No doubt the GOP response is that we need less regulation...
Tuesday, December 16, 2008
The Punishers: Credit Card Companies
