Sunday, July 20, 2008

The Debt Trap

Great article from The New York Times about Americans digging deeper into debt. They are not the only ones at fault. Read how the credit card companies and mortgage lenders reap profits from the fees they charge. It doesn't matter whether people can pay the loans off because the companies bundle up the loans and sell them as securities. NIMBY attitude and we are paying for it now with the credit crisis.

View the Article

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