About a week or so ago, I wrote a blog about the next financial crisis is going to be credit cards.  Have you seen Good Morning America this week, if you did not, it told that American Express is lowering credit limits and increasing interest rates.   And, yes the credit card King, Citibank is now in trouble, so  guess what, since the mortgage division has created the problem, the cc division will have to help, so here we go, increased interest rates, higher late fees, higher minimum payments, and so on. 

I hate to say I told you so, but I got you to read this blog didn't I. 

Rest of the story, we have only seen the tip of the ice-burg.

Pete Stanley