Citing credit card debt, medical expenses, and predatory lending practices, over one million Americans filed for bankruptcy in 2008, a 30 percent increase from 801,840 in 2007.
Banks foreclosed on an estimated three million homes in 2008.
Who isn’t struggling in this economy? Banks and credit card companies.
Using excessive interest rate hikes, high fees and penalties, and a bag of dirty tricks, those companies earned $160.1 billion in 2007, an increase of 10 percent over 2006.
We struggled, they stole billions from us.