Or is this just stupid-on-a-stick -- more all-too-easy credit being extended to minimum wage morons who should be learning to live within their limits rather than spending on things they really do not need?
From The Wall Street Journal:
Factory worker Dennis Davis recently stopped at the Cabela's store here to buy a $90 carrying case for the long-barreled Contender pistol he uses to shoot pesky groundhogs at his brother's farm. He paid with a store-issued credit card.
The U.S. government helped finance the transaction. Earlier this year, it recharged the credit-card operations of the Nebraska-based retailer of hunting and camping gear with nearly $400 million of federal financing...
.... Thanks to federal loans, Cabela's Inc. didn't have to slash credit to its customers... "Had we not been able to refinance this [debt], we would have massively reduced credit limits and canceled cards," says Cabela's chief financial officer, Ralph Castner. Now, Cabela's is pushing customers to borrow more. On a recent morning, employees near the entrance of the store in Hamburg encouraged customers to sign up for new cards.
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