re: #174 wheat-dogghazi

Easy credit was a boon to the banks and the credit card companies (and collection agencies), but a nightmare for consumers. People got real used to buying stuff they couldn’t afford. In time, that business model was extended to mortgages. And we know how that turned out.

I can remember when banks paid something like 5.5% interest on savings accounts. That ended in 1980, too.

Thanks, Reagan.

Ronald Reagan wasn’t yet president in 1980. A law enacted in 1980 would have been signed by Jimmy Carter.