Congress is working on reforms to be applied to the credit card industry. Good. They need it. But, when it became clear that the government was going to bail out floundering corporations, did credit card companies begin to make themselves insolvent in order to get in line for tax payer dollars? With a few exceptions, the credit card companies did not begin to shut down consumer credit until government handouts were known to be coming and the recession underway.
Continue reading Were Credit Card Co.'s Sabotaging Themselves?.
