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The Borrowers

How living beyond our means helped bring down the economy. The role of personal debt in the financial crisis, and where we go from here

  • How we came to live on borrowed money
    • A GM sign on a steel beam above a highway

      Culture of debt driven by GM

      There used to be a time when Americans frowned upon going into debt. But historians say that changed nearly 100 years ago. Stephen Smith looks back on how our debt-driven society hit the gas with General Motors. (03/09/2009)

    • Banks in downtown Sioux Falls, S.D.

      Sioux Falls: The town credit built

      South Dakota a financial powerhouse? It's not what immediately comes to mind. But you can thank this unlikely finance hub for your sky-high credit card interest rates. Stacey Vanek-Smith explains. (03/25/2009)

    • Dacotah Bank in downtown Sioux Falls, S.D.

      Sioux Falls jobs drop as defaults soar

      After Sioux Falls got rid of its credit card interest rate limits, financial giants moved in and brought thousands of jobs to the city. But with defaults soaring, the job market has tanked. Stacey Vanek-Smith reports. (03/26/2009)

    • Buried in debt

      Debt wasn't always the enemy

      The subprime mortgage debacle has given debt a bad rap lately. But there was a time when borrowing money helped establish a strong middle class. Stephen Smith reports. (06/29/2009)

  • Our love-hate relationship with plastic
    • Visa credit cards.

      Unemployed stay afloat on credit

      As employment benefits run out, more people are turning to credit cards to make ends meet. Stacey Vanek-Smith reports. (06/25/2009)

    • Meghan Daum

      Swiping that plastic can be fantastic

      Credit cards have gotten a bad rap, says commentator Meghan Daum, who thinks plastic can actually be pretty great, if needed. (04/13/2009)

    • Susan and David Litchfield

      Keeping ID thieves at bay

      Identity theft can be both frustrating and costly for the victims. Reporter Stacey Vanek-Smith visits one couple who is still trying to put their credit back together after eight years of identity theft. (04/17/2009)

    • Window sticker advertising Visa, Mastercard

      Credit cards take swipes at stability

      With consumer credit-card debt climbing, banks are shifting marketing strategies to get their plastic in the hands of more financially stable customers. Stacey Vanek-Smith reports. (02/03/2009)

  • What's behind the numbers
    • Visa credit card

      Credit card companies are watching you

      With credit card defaults rising, some companies are looking for reasons to cut your plastic. To make these decisions, banks rely on data about what you buy, where, and the company you keep. Stacey Vanek-Smith reports. (07/08/2009)

    • A number on a credit card

      10 purchases not to put on credit cards

      Certain types of purchases can be red flags to credit-card companies watching for signs of consumers with questionable finances. Here are 10 compiled with the help of Robert Manning, author of "Credit Card Nation." (07/08/2009)

    • Avis Durgan and Jeff Stevenson

      Good credit not immune to cuts

      Banks continue to cut credit lines, even for people with almost perfect credit histories. Stacey Vanek-Smith talks to one couple caught in their bank's blanket credit policy. (05/29/2009)

  • Where we go from here
    • Credit cards

      Credit card companies try new tactics

      With consumers defaulting and newfound scrutiny from lawmakers, credit card companies are in a tough place. Stacey Vanek-Smith reports that's got companies trying a new tactic. (09/15/2009)

    • Robert Grossman

      Credit card use is ripe for data mining

      These days, credit card companies are taking plastic away from a lot of consumers. To figure out whose credit to cut, companies look at where you live, where you shop, and what you buy. Stacey Vanek-Smith reports on data profiling. (07/01/2009)

    • 7-Eleven petition

      Merchants take a swipe at card fees

      Every time you charge your Big Gulp at 7-Eleven, a credit card company swallows part of the profit. But Slurpee slingers have had enough of the merchant fees. Stacey Vanek-Smith reports. (07/24/2009)

    • Bank customer uses ATM machine.

      Congress looks to limit debit card fees

      As more consumers are using debit cards for purchases, banks are seeing a decline in late fees and interest charges on credit cards. So they're looking to make up the difference -- and lawmakers have noticed. Stacey Vanek-Smith reports. (09/21/2009)

    • A Wells Fargo customer enters a bank branch

      Banks draft changes to overdraft fees

      If you ever spent more with your debit card than was in your account, your bank may have paid the amount but then slammed you with a big overdraft fee. Banks impose such policies as "protection plans." But now, as Stacey Vanek-Smith reports, you'll have a choice of whether you want one. (09/25/2009)

  • Digging out
    • Credit counseling

      Is credit counseling good for you?

      During these tough economic times, a lot of folks are reaching out for help with their credit cards. Marketplace Money listeners chime in on whether credit counseling has worked for them. (08/21/2009)

    • Mannequin holding red word Debt

      Breaking free from the spending fix

      Some consumers find credit cards are as addictive as cigarettes or alcohol. But programs like Debtors Anonymous offer plastic junkies the support to quit for good. Tess Vigeland reports. (08/21/2009)

    • Man looks at mounting debts.

      Compulsive debtors turn for help

      We've all heard about Alcoholics Anonymous. But Debtors Anonymous? Marketplace Money profiles three members. (08/28/2009)

    • Liz Pulliam Weston

      Do credit counselors actually work?

      If you're in debt you might hear advice to go to a credit counselor. But MSN Money columnist Liz Pulliam Weston has been looking into the success rates of those debt-management plans and has found that all too often they don't work. (08/13/2009)

    • A credit card cut

      Credit counseling can't help everyone

      For another point of view on the merits of credit counseling, we asked Gail Cunningham of the National Foundation for Credit Counseling to respond to Liz Pulliam Weston's assertions. She insists counselors are there to help, but don't work magic. (08/14/2009)

    • Woman holding credit card

      Getting out of $40K in credit card debt

      Sabrina Reigel moved to Southern California and didn't have any friends, so she spent some time shopping -- and racked up $40,000 in credit card debt. She tells us how she got out of it with her sanity intact. (04/30/2009)

  • We hear from commentators and experts
    • Commentator Harriet Brackey

      No credit card for my college-bound son

      It's that time of year again: young adults are schlepping off to college, many of them for the first time. How are parents handling the whole money conversation? Commentator Harriett Brackey tells her story. (08/28/2009)

    • Jill Schlesinger

      Credit card reforms only do so much

      Commentator Jill Schlesinger says that although the government has passed new rules regarding credit cards, real credit card reform will only come when individuals change their spending habits. (08/21/2009)

    • checks

      Painless spending can hurt pocketbooks

      Using a credit card is easy. Writing a check is more time consuming. Host Tess Vigeland talks with personal finance columnist Jason Zweig about how different ways of paying can affect how much we spend. (09/25/2009)

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