This video from PBS’ Frontline titled “The Card Game” goes far in getting the architects of such creative financing tools to admit that their financial products where traps and how congress supported deregulation. It’s a dirty dark secret of how our elected officials allowed banks to promote products that the average consumer could never fully understand. Products that would place millions of Americans into debt-traps and would help usher a potential economic collapse of the USA. The deception is clearly outlined, the most telling part is the explanation on the tricks and traps of credit card companies and the length they’ve gone to make sure that their products skirt the Truth in Lending Act.
