Next crisis in the batter's box; credit cards.
I can almost hear Wall Street thinking:
Let's see. The government like totally bailed us out on the 'credit crisis.' Our bonuses are safe! Let's sock all that money away, (what, loan money?) and if any really cheap banks come up, we'll buy them!
Thanks, Uncle Sam!
(What a sucker, heh.)
Where else can we snag some money?
Oh, yeah. The credit cards situation really sucks. Of course, it's sucked for years, but we've kept it on the Q.T. But now?
Hey, Uncle Sam! Look how bad the credit cards are!
Here's what we'll do. We'll lower the credit on the good guys, who will immediately start screaming. We'll keep squeezing the bad credit risks for penalties and late fees, until they crack, but by then we should have more of the luscious federal moola!
Get those P.R. guys crafting some ominous sounding warnings....
Oh, I can't wait!
Merry, Funking Christmas, everyone!
3 days ago