Yesterday evening, on MPR’s Marketplace, John Dimsdale reported on private equity firms that may buy up bad debts under the government’s economic recovery plan. In the report, he referred to the business of servicing bad credit card debts as “collecting payments from deadbeat borrowers.” Here is the segment:
With unemployment at its highest in decades, many consumers are in default because of job loss, a medical emergency, or even because the credit card company jacked up interest rates. Calling American consumers “deadbeats” is just kicking them while they (and the economy) are down.
Private equity firms invest in bad assets | Marketplace
(photo: jacob earl)
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