Ex-Credit Card Bankers: "Every Customer Who Calls In Is A Mark. It's A Great Big Con." [Confessions]

CNN has an interview with two former credit card bankers who are admitting that their job was to get consumers to max out their credit cards and take on as much debt as possible, regardless of the customer's ability to afford it. They both worked for MBNA at their "sprawling consumer call center in Belfast, Maine." The bankers say [more...]

Date: 2008-09-25 16:39:25

Blog posts (106) | Videos (183)
 

Kevin Drum — Why Can’t We Have It All?

Kevin Drum is looking at the benefits of massive fiscal stimulus as well as tax cuts… And he wonders why we don’t do both? Stimulus spending can ( ... than they are today. Likewise, it will be helped along if consumers have paid down some of that credit card debt and put a few dollars aside. Right? We can’t keep running a negative savings rate [more...]

Date: 2009-01-12 21:07:07

Is Debt Consolidation The Right Choice For You?

by William Blake Debt consolidation means to combine several small debts into one single payment per month in order to lower monthly payments or high interest rates. Typically, consumers will consolidate credit card debt, medical bills ... rate and create payments that are more manageable. Keep in mind that for debt consolidation [more...]

Date: 2008-10-27 12:23:33

Credit Card Consolidation Service - Financial Peace Of Mind

Are you one of the many people having trouble paying your bills on time every month? it does seem to be an epidemic at this point in our society ... things going reasonably well financially. How do you find consumer credit counseling service? Debt ... on the payments for your debt consolidation loan. The more rational course to take when money [more...]

Date: 2008-10-25 14:28:17

Investors May Be Too Optimistic About Consumer Recovery

The most accurate banking analyst, Meredith Whitney, has warned that banks are likely to continue to restrict consumer credit, ... , are implemented. Credit card issuers shifted their model away from one where they earned ... , the somewhat in debt and the chronically indebted. Indeed, in the stone ages of the 1980s, banks were really [more...]

Date: 2008-12-14 06:10:36

Foodie Philanthropy

Don't get me wrong, Christmas is a great time of year ... consumed, and the amount of credit card debt I've racked up buying gifts and decorations, I always ... not only your money but your help: Bread for the World This Christian organization advocates [more...]

Date: 2008-12-23 21:42:59

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