The next ball to drop - credit cards

What exactly is the game plan here with these banks and these credit cards?  I know my readers have been hearing a lot out of me on the credit card issue - but this is getting crazy.

We all know that the housing market failed - check.

Last night, Rosemary and I were discussing what may be the next ball to drop.  I thought that it might be the auto market because nobody could afford to buy any more cars.  Quite a possibility, but Rosemary had one better- the credit cards!

If you have read my Bank of America stories, you know that Bank of America took TARP money and began to play a bunch of games with the American people.  We have seen interest rate hikes, credit limit decreases, and bank account management fees increase out of Bank of America.  I have walked away from the bank and I know others who are as well. 

I'm just curious to find out what exactly Bank of America is planning to do with its strategy.  It seems to be targeting people who need credit but can't afford to pay their bills.  Didn't they do this with the mortgages as well?  What happens when everyone stops paying their bills because they can't afford them?  What happens when disenfranchised bank customers stop paying their credit card bills because they have been jerked around too much?

The only thing that I can think of is that Bank of America (and other banks like it) are planning on getting a bail out on credit cards as well.  In the meantime, they will squeeze the living daylights out of the consumers -once again taking advantage of the vulnerable as was done in the mortgage meltdown - and then look to Uncle Sam to pick them up.

I wish these banks weren't seen as too big to fail!  If Rosemary is correct - and I suspect she is - if the credit card system fails as well - we are in huge huge huge huge huge huge huge trouble!  Credit scores will mean nothing, billions (and maybe trillions) will be lost by consumers trying to keep up with an artifically bloated credit rating system, and credit will be so dry that we'll no longer be able to consider it a viable option as way of life. 

That is really scary!