Monday, September 22, 2008

For Banks, Bailout, For Young People Advice About Credit

Check out this recent NYT article:

"The Treasury Department started a campaign last week to educate Americans about the importance of credit. The campaign was not designed for Wall Street banks, currently awaiting the details on their $700 billion government bailout, but for 18- to 24-year-olds, who are presumably too young to bring the financial system to its knees. The campaign, which includes two videos, two radio spots and an online game in English and Spanish, warns young viewers: “Don’t let your credit put you in a bad place.” To some, the effort might seem a tad late given current events, but those running the project say the timing is just right.“I think that recent events have highlighted the importance of understanding the impact that your financial decisions can have on your life,” said Jennifer Zuccarelli, a Treasury spokesperson."

I have to say, I've learned more about how banks and investment firms function (or fail) in the last week than I ever knew before...Should it really take a credit crisis for young people to learn about how credit works? Sad...