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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Sawdusty who wrote (26908)	2/21/2005 9:44:15 PM
From: lzc	Read Replies (1) \| Respond to of 110194

>>>little sympathy for the companies that started this mess. I hope my post didn't imply that I did. I don't. But, while these companies are clearly in the business of pushing credit for profit, they are also under public pressure to do so. We have gone down a road in which turing back will be difficult. Restraining credit growth necessarily impacts certain groups more than others, which leads to charges of discrimination and consent decrees with the government, and then affirmative action plans to extend credit on even more generous terms to the class allegedly offended. Penalties imposed by card companies for exceeding one's credit limit are now routinely denounced as unconscionable, with calls for legislative remedies Apparently, there should be no limits at all.