One asset at a time.

Editor,

I hope Havana is watching because when American banks offer Cuba loans for self-evidently benign purposes, Cubans should see the door to even worse than Batista swinging open.

Credit is the gift that keeps on giving -- to the sharpies who extend it.

It is the road to ruin for the suckers who accept it. Everyone who peddles credit knows that money up front looks a lot more appealing to a mark than payments down the road will. There must be a psychological study on this somewhere.

Credit is a scam, and it devours countries one asset at a time.

Re: "Dipping Into Auto Equity Devastates Many Borrowers" (12/25/2014)