In this corner.....the mortgage industry...The government is up in arms, the economy has been adversely effected by unscrupulous investors taking advantage of the poor, the tired and the hungry. As always, close scrutiny will be paid to bankers, lenders, and brokers at every governmental level, local, state and federal. We'll exhaust every effort to ensure that the activity which lead to this has stopped. There will be more forms to gauntee that consumers know exactly what they are getting into. Licensing requirements will become more rigid. Banking examinations will be come more frequent. What ever it takes to fix this injustice, you can bet the government agencies will have the answer, and all will be well. Of course it may take months, years, but the folks we've elected will take care of us. Someday, some way, some how. The amended FHA 'emergency' restoration bill passed through congress (I believe) 3 - 4 weeks ago. Now it's on to the senate, and then the President. Why so long? Good things come to those who wait I guess.

 In this corner.....the credit card industry...This has got to be the greatest industry known to man. Taking care of the poor, the tired, the hungry, one $200.00 credit card at a time. The rates are variable, with King Kong like margins. But who cares! It's affording all kinds of people without ability or intentions to repay a little fun money for the weekend. To make sure these companies can get the highest rate of return, they have moved from state to state over the years to allow for the highest possible interest rates. First it was Delaware, then on to South Dakota. I'm not sure of the state of choice these days. But you can be sure that it allows for big numbers. There are all kind of wonderful fees allowed in the credit card industry. The late fee, the over limit fee, the monthly usage fee, the individual transaction fee, the annual card holder fee,etc.....AND my favorite stipulation, 'the card issuer resevers the right to alter your agreement at any time'! This industry is just a money making juggernaut! Limited to no federal regulation, minimal state regulation and no real care or concern for its customers.

32 years ago I began my career in consumer finance. Personal loans were 28 - 29%. We were the peria's of the credit industry. How could anyone charge such an outrageous interest rate??? Check out some of the intrest rates on credit cards today. I've seen some as high as 39%! As time went on, these companies as they were could no longer hold a profit margin that would support personal loan lending. Most went out of business, while some changed it's market strategies to call themselves Home Loan Company's. These places continue to evolve. The credit card industry contiues to grow and prosper. But I digress..

Credit Card vs. Mortgage industries, quien es mas macho?? It seems obvious to me that its the Credit Card industry es mas macho. Why else would the federal government fail to rescue our economy from this monster? FEAR?