credit
Sorry to disappoint all of you who think that the
two-person Segway is the most innovative thing GM has produced in its long history — it seems that the company's most important new idea was
consumer credit. More specifically, convincing a nation of thrifty debt-averse tightwads that taking on debt was socially acceptable. Yes, it's true. We weren't always a bunch of debt junkies.
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depressing
The ongoing subprime meltdown is
merely the first destructive wave of credit catastrophe to wash over Wall Street, according to Slate's resident explainer. Americans drunkenly bandy credit around in several forms: mortgages are the most prevalent loans turning sour, but credit card debt, student loans, and auto loans are silently conspiring to threaten our macroeconomic well-being.
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Consumerist
