The numbers, when they begin to unravel, are three times what's at stake in sub-prime mortgages. Government hasn’t the foggiest notion of what to do.
Ben Bernanke is soiling his pants and the best Henry Paulson can come up with is to give us each $600 to go out and spend. Which is akin to buying your alcohol-addicted uncle a bottle of Jack Daniels.
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Media comment;
- Orlando Sentinel-Credit card: You'd better leave home without it
- Reuters-Emerging debt-Grim US consumer survey leads market lower
- Consumer Affairs-Debt Reduction Companies Settle with Feds
- Daily Press-Credit card debt
- Reuters-Filmmaker puts American debt in Sundance spotlight
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