the wherewithal

Interesting to note the rise of credit card liabilities as a potential major issue for US financial services companies. Bank of America’s recently announced figures reveal that it is the credit card division that has trumped other losses in the business - including that incurred by having to pay back the US government some of its bailout money. This raises the question: is unsecured credit default the sting in the tail of the secured credit crisis?

My guest blogspot over at Socializing Finance continues…

Today’s post looks at the Magna Carta as an early attempt to perform transparency in relation to forms of borrowing. I also talk about its materiality, so here’s a picture to remind you of what it looks like (I couldn’t get this to work on the Socializing Finance site).

The Magna Carta (1215)

My first guest post on Socializing Finance looks at the status of consumer credit as a controversial object. You can have a read here.

I’ve also posted up a working paper on the site, which can be downloaded here.

Any and all comments welcome!