Rumpole

Government's New Credit Approach: Does the End Justify the Means?

Since the secondary market has dried up and credit card companies have to keep the loans on their books, could someone please tell me why they can't secure them against a card holder's real estate or personal property using personal property security legislation? Granted, it's not a perfect solution, but the companies could at least do that much. but your larger point is correct, too much credit was issued on very loose terms and it's been abused by many of the people to whom it's been issued. Pain will ensue, it's inevitable.