The Credit Card Economy Comes Home to Roost

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The credit card industry has extended $5 trillion in available credit.”  So far, only $800 billion is currently owed.  But, as more and more people look to credit cards as a way to coping in tough times, “easy credit” is becoming a thing of the past. What happens when an industry that extends “easy credit” in good times has to contract? Is anyone looking out for consumers?

Credits

Guests:
Kelli Grant - Senior Consumer Reporter, SmartMoney.com, Robert Manning - Rochester Institute of Technology, Gail Hillebrand - Manager, Consumers Union's Financial Services Advocacy Campaign, Dan Ariely - Duke University

Host:
Warren Olney

Producers:
Katie Cooper, Christian Bordal