ok so I read this letter from Bob Dewberry to the WSJ and in it he called for the return of credit as it was for WW2 vets. he points out how a man who could prove he had no need for it could get a line of credit. he also says how this was before the invention of credit cards and points out that it worked just fine plus it was simple, no bundled mortgages and confusing rating services. while I agree that this probably was a simpler and maybe even easier way to handle credit, it just isn't practical in today's world where you can fly across the globe in a few hours. the world got really small really fast and today's consumer needs a credit card system that can keep up with him/her and maybe that comes along with a lot of complications but as long as you don't act crazy with your card and pay your bills on time you should be ok.
Chris M.
Monday, February 8, 2010
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