I read a couple of articles that finally made me feel a little better about all the bailout talk and shenanigans going on lately.

If you are a home owner and fall behind in payments, you may be eligible for a new fangled program. If you are a home owner who struggles, makes tough decisions like not going to the doctor but make your house payments on time, you are out of luck.

The banking industry knows full well the next huge issue for them will be credit card losses. These losses cannot be blamed on anything or anyone except the lending decisions banks made to earn more profits. Consumers took to the cards sort of like the lottery. Can’t blame an alcoholic if he drinks the beer you gave to him can you? Then again, some can blame him. It’s his choice. No one made him drink.

So there is some ground swell to having bailout money set aside to enable the banks to forgive a large portion of the credit card debt consumers currently owe. This is not as simple as it may seem either. Any forgiven debt is actually considered taxable income so the IRS must sign off on the deal as well.

Forgiving the debt would help the consumer with a new start and option rather than adding a new bankruptcy stat and foreclosed home. It may be on my tax payer back to make that happen but we have bailed out some really rich folks this year. Can't say we have really bailed out the consumer yet that I can tell.

The credit card debt is on the minds of banks big time. And will further delay the economy and improved banking health if not addressed soon. And you know if the industry has introduced the idea, there is a lot potential losses coming out later about it.

A happy banker beats the heck out of an unhappy one. Just ask the Feds.

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