Round-up: MSNBC Dateline Videos Examine America's Debt Problem

Posted April 23rd, 2009 by Visitor

These six short documentary segments from Dateline are truly fascinating. They follow the lives of real people drowning in serious debt, and the shocking (and illegal) tactics that debt collectors use to get them to pay up. A worthwhile and interesting watch... 

Debt Trap, Segment 1

An introduction to America's staggering debt problem. Focuses on the Harrington family (who fell into serious debt after their son's cancer treatments) and the Snider family (who depend on their credit cards after a layoff and a new baby). Debt expert and Harvard law professor Elizabeth Warren provides commentary.

Debt Trap, Segment 2

Discusses how the credit card companies have profited as Americans fall more and more into debt. Elizabeth Warren compares credit card companies to loan sharks, saying their practices would make "Tony Soprano blush."

 

Debt Trap, Segment 3

This segment follows the London family, who had perfect credit until their household income took a nose dive during the recent economic downturn. They coped by using a pre-approved credit card that came in the mail to pay their bills, which soon led to out-of-control debt and harassing phone calls from debt collectors. 

 

Debt Trap, Segment 4

This video interviews collection agency workers, who reveal the shocking and illegal tactics they use to collect debts.   

 

Debt Trap, Segment 5

Debt collectors sometimes act as though the debtor has broken the law, and that a warrant has been issued for their arrest.

 

Debt Trap, Segment 6

Follows a sketchy debt collection agency run by convicted felons. Elizabeth Warren concludes the MSNBC series by stating that the debt collection and credit card industry need serious reform and increased government regulation. 

Average: 5 (2 votes)
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