EndrTimes: Frontline - Secret History of the Credit Card (2004)

Friday, July 03, 2009

Frontline - Secret History of the Credit Card (2004)

Frontline - Secret History of the Credit Card (2004)

Frontline - Secret History of the Credit Card (2004) - 56:08 -
Aug 8, 2007 PBS -

www.pbs.org/wgbh/pages/frontline/shows/credit/

The average American family today carries 10 credit cards. Credit card debt and personal bankruptcies are now at an all time high. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the American banking industry: more than $30 billion in profits last year alone. FRONTLINE examines how the credit card industry became so pervasive, so lucrative, and so powerful. If copyright becomes an issue on this video upload, it will be deleted immediately.

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Le Troisième Ange

Sir Alexander Fraser Tytler

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's great civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage.”

John Emerich Edward Dalberg-Acton (Lord Acton)

"I cannot accept your canon that we are to judge Pope and King unlike other men with a favourable presumption that they did no wrong. If there is any presumption, it is the other way, against the holders of power, increasing as the power increases. Historic responsibility has to make up for the want of legal responsibility. Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or certainty of corruption by full authority. There is no worse heresy than the fact that the office sanctifies the holder of it."

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