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Maxed Out Discussion Questions
- Elizabeth Warren, a Harvard professor, explains in the video that credit card companies want people who have filed for bankruptcy to owe them money. One of the reasons was that they can never file for bankruptcy again, but the other reason she gave was that those people “have a taste for credit.” Explain what you think she meant by that.
2. While video acknowledges consumer responsibility, it also concludes that aggressive marketing and other tactics are employed by the lending industry to get us into debt and keep us there. Many in the video explain that consumers should be protected against these practices. Do you feel consumers have better protection from predatory lenders or is it buyer beware? Explain.
- Do average Americans have the information they need to sufficiently protect themselves against abusive loan products?
4. Do you think it is right that lenders aggressively market credit lines to certain types of consumers? (e.g. college students on their campuses, retirees on fixed incomes, people who have recently filed bankruptcy, people who might not understand the credit terms due to limitations of language, education and/or health?)
5. How do you feel about the how the debt collectors in explain how they get personal with the debtors that owe them money and try to get to know as much about them as possible so they have power over them? When answering, consider your ethics and morals.
6. It is proposed in the video that maybe young people who go into the workforce at a young age versus going to college may not get in debt and be targeted by credit card companies because they have a better idea of the value of a dollar. Do you agree or disagree with this? Explain.
7. Who do you feel is most responsible for America’s debt crisis and why?
8. How are people’s lives different today from 30+ years ago that might make it more difficult for them to even meet their basic living expenses without going into debt?
9. What kind of physical and mental effects does debt have on people?
10. George Bush is shown speaking about how he doesn’t want to saddle Iraq with debt because the only way they c
could pay back a loan is with oil. Do you think this is fair to the American people? Explain.