August 2009
1 post
3 tags
Take Your Own Credit Measurements
Credit card lenders are a brave bunch.
Their business of (blindly) extending credit is based on three key assumptions:
Consumers will take a short-term no-interest loan to make a purchase.
Consumers will overspend/undersave to the point that they pay interest on the loans.
Merchants will take a haircut to complete a sale.
As each one of these assumptions has broken down over the past few...