Consumer Credit: The Next Shoe To Drop?
Dec 4th, 2008 | By Jason Simpkins | Category: Politics & EconomicsConsumer credit could be the next “aftershock” of this financial crisis, says Jason Simpkins. Banks have suffered big losses on mortgages, and are now looking to reduce their exposure to credit card debt. This could be the death knell for the American consumer, and deepen the US recession in 2009.