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Credit Card Stocks: The Credit Card Fair Fee Act may kill the interchange fee… and credit card company revenues
The nation is in a credit-induced mess. Thanks to incredible amounts of financial leveraging, a small-scale headache for the mortgage industry has ballooned into an economic catastrophe that threatens every global market.
Some of the nation’s largest, most secure banks are screaming for government help. But it is too late. The ripples created by over-leveraging, bad debt, and rising inflation are going to increase the problem exponentially, no matter what Bernanke or any other federal intervention can do.
In fact, for one large segment of the nation’s credit industry, Washington is tirelessly trying to pass legislation that would be a significant burden…
19Mar2008 | Guest Contributor | Comments Off | Continued
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