Killer Credit

In These Times by Adam Doster | Jan. 29, 2008 (Special Report)
Attack of the $915 billion consumer debt monster

Like mortgages, credit card debt is often carved up and sold on global debt markets as securities. Since borrowers generally pay back what they owe, that debt has been profitable and safe for traders, which explains the $40 billion increase in securitized credit card debt from September 2005 to 2006.
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These developments are problematic because credit card debt is unsecured, meaning no portion of defaults can be salvaged. Yet broader dangers ... Full Story »

Posted by Dwight Rousu

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Dwight Rousu
4.7
 by Dwight Rousu - Oct. 1, 2008

The story gathers and presents new information woven into a comprehensive presentation of both recent history and current situation of consumer debt. The idea that it could be a crisis similar to the subprime crisis, and additive to it, is startling. Well done.

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Dwight's Rating

Overall
4.7

Very good
from 13 answers
Quality
4.7
Facts
5.0
Fairness
5.0
Information
5.0
Sourcing
4.0
Style
5.0
Accuracy
4.0
Balance
4.0
Context
5.0
Popularity
4.5
Recommendation
5.0
Credibility
4.0
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