Apr 7 2009
Credit card companies shut down 8 million credit card accounts in February while accepting more Bailout Credit Cards from the U.S. Treasury. 400 Million Credit Card Accounts still open.
Many American households have been strapped for money for many years. The benefit of having a debt bubble is the ability to cover up troubling economic trends and drown out any noise while people feed at the bubble. During this time, credit was easily accessible and many families used credit cards as a bridge loan [...]
