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["clanSkeen" <sgian AT planetc.com>]

> Credit cards are the best means of making money that banks have ever
> encountered.  They absolutely will never give them up, and will readily,
> if reluctantly accommodate to any and all State regulation designed to
> rein them in.
>

Tvo,

Rest of you answer acknowledged and appreciated.  I'm getting some good
stuff out of this.  But this last above:  Of course, credit cards are here
to say, and no mistake.  My question was not of them being eliminated, but
....... if I were a moron (economic moron, let's limit ourselves to that) I
could get $60,000 of unsecured credit tomorrow, maybe a lot more.  Anyone,
litterally anyone living or dead, human or not, can get a credit card
tomorrow.   I am thinking the defaults and losses are well offset by the
usurous profits.

If regulations are enforces obviously credit cards would not disappear.  But
would they then be about as difficult to get as a signature loan, and the
limits be greatly reduced?   Would a very great number of people who can get
one today not be able to get one under better state laws (or probably better
put, under an elimination of bad federal laws)?

Not that this would be a bad thing.

But while banks, especially very large faceless banks, would be reluctant to
change the status quo; I wonder if a great body of the unwashed  consumers
would not be just as reluctant since it would put them out of loop.

James