National Credit Crisis Deepens
April 10, 2008
America’s credit woes appear to be escalating, according to figures released about the state of U.S. credit card debt.
Experts now say that such debt has reached $920 billion and appears to be growing. Part of the problem is the housing crisis. It used to be that homeowners took out home equity loans in order to finance emergencies. Now, given stricter loan standards, homeowners are instead turning to credit cards to get them through the tough times. Read more
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