The Slimy World of Credit Card Lending.

Credit card companies have made it their passion to ensure that every eligible American has access to a credit card. They have also created a financial labyrinth with traps in every corner from tricky financial statements to interest rates that would make loan sharks blush. The credit card has become some form of financial rite of passage. Even colleges are plastered with credit card pushers trying to get their new batch of Americans hooked on the world of debt financing. In a way, this is an early initiation into the world of spending what you don’t have so when the U.S. Treasury and Federal Reserve create money out of thin air many Americans don’t find this concept foreign.'

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Fannie Mae Loses $15 Billion, Wants $11Billion More

Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.

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