That Carmen on CNBC makes me sick. If the people do not have the cash to pay the cards, their kids should get the money out of the banks and hide it under a mattress. Then they should let their parents walk away from the credit card debt. Any other advice is really scummy, especially under the circumstance of bank loan sharking.
Banks are loan sharking by borrowing at a very low rate from the government, and by raising, rather than lowering rates. Just because they cannot sell security paper in these cards to investors who have been scammed by the banks before does not mean that this is the fault of the borrower.
So, since the banks are legal loan sharks, they need to walk away from these bank loans!!!
Do any of you have an opinion about the advice given regarding these 80 year old folks in cc debt? Any brave souls want to post an opinion?
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