To the Point
The Credit Card Economy Comes Home to Roost
Two thirds of the US economy depends on consumer spending, and credit cards account for a big proportion of that. But with more and more people struggling to pay their bills, credit card companies are now making it harder. Is anyone looking out for consumers? Is there a need for reform? Also, AIG audaciously issues $165 million in bonus payments, and endangered languages.
By Warren Olney • • 1h 0m ListenTwo thirds of the US economy depends on consumer spending, and credit cards account for a big proportion of that. But with more and more people struggling to pay their bills, credit card companies are now making it harder. Is anyone looking out for consumers? Is there a need for reform? Also, AIG audaciously issues $165 million in bonus payments, and the Irish language, called Gaelic in the US, is one of thousands of endangered languages.
In this episode
3 storiesAIG Audaciously Issues 165 Million Dollars in Bonus Payments
Yesterday, Obama administration officials went on TV to deplore the revelation that $165 million in taxpayer dollars will be used for executive bonuses at the failed insurance giant AIG. Today, it was the President himself, who said AIG is in trouble due to “recklessness and greed.”
Read the story6 minThe Credit Card Economy Comes Home to Roost
Credit card companies made big money by extending balances and reducing interest rates to millions of US consumers. But times have changed. Now, when other businesses are desperate for customers, credit card companies are reducing credit lines, jacking up rates and even closing accounts.
Read the story38 minDisappearing Languages
As the world prepares for another St. Patrick's Day, the traditional Irish language is appearing on green T-shirts and being mangled in pubs. But Irish, or Gaelic, is one of thousands of endangered languages worldwide. When Ireland was founded in 1922, 250,000 spoke it fluently, but that's down to 30,000.
Read the story5 min
