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More on understanding credit card reform

Here’s an interesting Q&A from the Washington Post on Monday on the implications of credit card reform, which passed the Senate today in an overwhelming 90-5 vote - now we know how many bankers are in the Senate - and is headed for conference.

And here’s the Post story on today’s vote.

Now, everyone may be paying a $50 annual fee and 18 percent interest to use a credit card.

Ah, the horror. :-)

We could chat until Judgment Day about the wisdom of carrying revolving debt and the wisdom of deregulation. What are your thoughts on both?