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November 23, 2004
Secret History of the Credit Card--Tonight! Tonight at 9 PM on PBS, Frontline is airing an important show on the credit industry and how it hooks individuals on debt. I helped with some of the research for the program. Here is the press release and here is coverage in the NY Times. Tune in! Here is the show's website: The average American family today carries eight credit cards. Credit card debt and personal bankruptcies are now at an all time high. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the American banking industry: more than $30 billion in profits last year alone. FRONTLINE and The New York Times examine how the credit card industry became so pervasive, so lucrative, and so politically powerful.Posted by chris at November 23, 2004 09:46 AM
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