Will the new credit card regulations (for 2010) help curb the countrys large problems with revolving debt?
The new rules will make credit card offers more clear, but the problem with credit-card debt is simple: many people simply have too much of it. Credit-card debt usually carries high interest rates and can become a huge impediment to building savings and retirement nest eggs. People should be focused on sharply reducing their expensive credit-card debt, and while the new rules will help, it is the practice of thrift and budgeting that ultimately helps people pare down their credit-card debt. When is the next book, The Rebirth of Wall Street? Wall Street will come back. The question is what form will it take? After the crash of 1929 and the hardening of the Great Depression, the government created a regulatory framework that included the establishment of the Securities and Exchange Commission. It is likely that the Obama administration will start to craft a new regulatory framework in the wake of the financial crisis. This will likely mean tougher regulation for Wall Street, hedge funds
