The next banking debacle: the credit cards folly

The Worst Is Yet To Come: Anonymous Banker Weighs In On The Coming Credit Card Debacle.

That won't probably be the same scale in France, due to a more restrictive legislation (banks can sit down on bad debts if there is the slightest proof that they irresponsibly lent money to someone), but the current crisis doesn't seem to have any effect on the plethora of pre-approved credit offers that continue to fly by mail.

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