Why Credit Card Companies Are Evil
Credit Card Executives Tough Out Senate Hearing
Disclosure Statements Written at "27th-Grade Level"
"Credit card debt is often seen as a very personal problem, but the burgeoning level of household debt in America has implications for the entire nation," Sen. Norm Coleman (R-Minn.), ranking minority member said. "Over the past 25 years, U.S. household debt has ballooned from a collective $59 billion in 1980 to approximately $830 billion in 2005.
"Even more staggering, the number of consumers filing for bankruptcy has increased by 609 percent," Coleman continued.
via Simple Dollar
I forgot to mention that I saw Maxed Out on Monday, which highlighted some less savory senate cc company hearings including the bankruptcy revision. They interviewed Elizabeth Warren and Alan Greenspan (no link needed) about the effect of personal debt on a national level. And it was fairly unsettling.