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Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders by James D. Scurlock
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Maxed Out: Hard Times in the Age of Easy Credit

by James D. Scurlock

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103160,391 (3.44)3
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Scribner (2007), Edition: Reprint, Paperback, 272 pages

Member:chihuahua
Collections:Your libraryRating:
Tags:money, credit, economics, sociology
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This one hit me home: Yolanda has never had a credit card in her life, though she could easily get one. The only debt she and her husband have ever allowed themselves is the mortgage, which she pays religiously, She doesnot by Suze Orman's books or listen to Dave Ramsey's radio show. If you told her that she could save money by spending, she would laugh at you. If you tried to convince her that a new Cadillac was an investment or that a Chevrolet pickup truck meant freedom, she would know you were one of the crazies. Yolanda knows what her children and what many of us do not know: that dreams are built upon sacrifice. They cannot be purchased on credit or with any softer currency.
To learn more about the history of lending, or about he organizations involved in AFFIL, to share your story or learn how to prtect yourself against predatory lending, I'd encourage a visit to www.americansfor fairnessinlending.org. You can also contact them at 77 Summer Street, 10th floor, Boston, MA 02110 ( )
  lldine | Aug 6, 2007 |
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Amazon.com Product Description (ISBN 141653251X, Hardcover)

In this shocking and illuminating road trip through an America ravaged by debt, award-winning film director James Scurlock examines our multitrillion-dollar addiction to easy credit in all of its absurdities and contradictions.

Maxed Out ventures beyond the mind-numbing statistics to expose a financial industry spinning wildly out of control. From the gilded master-planned communities of Northern Las Vegas to the shotgun shacks of the Deep South, the world's largest financial institutions are trolling for customers, hooking the nouveau riche and the poor alike with promises of cheap and easy credit. Maxed Out exposes how Wall Street and Congress spawned the subprime mortgage crisis and reveals how credit card issuers form multimillion-dollar partnerships with universities -- paying them millions for access to their students' personal information, setting kids up for financial ruin before their first job. The industry's final frontier, "debt buying," is a veritable Wild West in which ambitious young men make quick fortunes off the misery and misfortune of others.

Hilarious, fascinating, and deeply disturbing, Maxed Out is one man's answer to modern America's most pressing question, "Why can't we get out of debt?"

(retrieved from Amazon Fri, 08 Jan 2010 01:03:19 -0500)

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