The Wizards of Consumer Lending [doc/vid]

"We are in a historic low interest market right now... and yet credit card interest rates are outrageously high. They have not come down as industry rates have come down... these are phony rates ginned up by the banks to maximize profitability... the Obama administration is very unwilling to do anthing truly radical that would hurt the banks."
~Joe Nocera, NY Times

"Bankers will figure it out... comply... as long as I'm in compliance with what the government says, it's none of anybody's business to tell me what to do.. that's the kind of mindset with which some people work... tell me the rules and then I'll outsmart you out... because none of you are smart enough... you make the stupid laws I'll comply and I'll make money. There are always some desperate people who will take the product... lending money to people is never a difficult exercise. People will take money if you're willing to give it."
~Shailesh Mehta, former CEO of Providian Financial (resigned in 2001)