Quote:
Originally Posted by A1R3K
i don't see how anyone couldn't see see that trillions of dollars of rescinded credit lines, equaling 45% of the issued credit on the streets now, will not affect an industry that relies on credit. of course i understand the amount of people who debit via card systems, but come on folks. not the end of the world, but compounded with other issues facing the industry, it is absolutely not going to help, we can count on that.
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It seems like a big deal, but this is money that isn't being spent anyways, it's just available credit.
Banks aren't going to reduce credit lines below what you already owe them, so this is just "theoretical money" anyways.