Advanta Shuts Down Small Business Credit Card Accounts

Advanta Shuts Down Small Business Credit Card Accounts

UPDATE: Advanta Moves Up Credit Freeze Deadline, Still Doesn’t Notify Customers

Video: How Credit Cards Become Bonds

Video: How Credit Cards Become Bonds

We’ve heard lots about how mortgages get turned into tradeable securities, but they’re not the only thing. No no no, there was far too much Chinese money not able to earn anything on T-bonds for us to let them lie. Credit cards can become asset-backed bonds too. Marketplace’s Paddy Hirsch is back with his whiteboard and dry-erase markers to explain how it works. Video inside.

http://consumerist.com/2008/04/28/nyt-on-how-moodys-triple-a/

NYT on how Moody’s triple-A security ratings led to the subprime meltdown.

Why Few Seem To Be Able To Work Out Better Loan Terms

Call it what you will, the borrower bailout/rescue/whatever does not seem to be working. Foreclosures are still on the rise along with defaults and sad stories. And while those numbers go up, the economy continues to worsen.