nytimes.com - 1/5/2009
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Bank of America says it eased off on more than 700,000 credit card holders in 2008, lowering interest rates and some balances.
meganmcardle.theatlantic.com - 12/30/2008
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meganmcardle.theatlantic.com —
Retail sales plummeted in November and December. This
is exactly what I, for one, expected--every time I...
went to a mall, the parking lot was full, but there were no lines at checkout. This isn't only bad news for retailers, but also for credit ...
(more)
Bad news for retailers, and credit card companies
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Political Animal —
by hilzoy Just a couple of things I had to highlight. First, my quote of the day : "After helping to foster the explosive growth of consumer debt in recent years, credit card companies are realizing that some hard-pressed Americans will not be able to pay their bills as the economy deteriorates." Really? All those credit card offers to people on the verge of bankruptcy had a downside risk? You don't say. Second: ladies and gentlemen, via ...
Random Snippets
Obsidian Wings —
... by hilzoy
Just a couple of things I had to highlight. First, my quote of the day:
"After helping to foster the explosive growth of consumer debt in recent years, credit card companies are realizing that some hard-pressed Americans will not be able to pay their bills as the economy deteriorates."
Really? All those credit card offers to people on the verge of bankruptcy had a downside risk? You don't say.
Second: ladies and gentlemen, via TPM, our newest Senator: ...
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I highly recommend this post by interfluidity, where he slices a credit card into the transactional and revolving portions, and makes this finance blogging thing look easy. He write about how we should focus on ...
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he Senate voted overwhelmingly on Tuesday to put new restrictions on the credit card industry, passing a bill whose backers say will make card-issuers spell out their terms in fewer words, using plain English, and ...
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