If
the housing crisis is not pressing enough, rising credit card debt is creating
more hardship for many Americans. An analysis by the newspaper USA Today shows
credit card debt grew between 2001 and early
2006, fueled in part, by rising home equity, the value of a home minus its
outstanding loans.
Some consumer
advocates blame the banking industry for taking advantage of homeowners who now
find themselves in a credit trap. VOA's Mil Arcega reports.