Credit Card Debt the Movie

It is a sad state of affairs.  Credit card debt is so out of control that they are making movies about it. 

Source: Herald Net

Some of the stories, for instance, are clearly examples of addictive personalities, people who simply can’t stop spending money, or who have no idea that buying something with a credit card means you actually do need to pay for it someday.

However, Scurlock does a good job of showing how the credit card companies seduce and exploit such people. And everybody else. As virtually everybody involved acknowledges, reverse logic is dominant here: The credit card companies don’t care about people with good credit. They want people who won’t make their payments.

The Harvard professor Elizabeth Warren calmly outlines a system designed to keep consumers from ever being able to pay off their debts, once they’ve gotten into a cycle of late fees and other penalties.

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