The Two-Income Trap by Elizabeth Warren; Amelia Warren Tyagi

Author:Elizabeth Warren; Amelia Warren Tyagi
Language: eng
Format: epub, mobi
Publisher: Perseus
Published: 2010-05-26T16:00:00+00:00

And so it was that family spending was transformed in a single generation. In the late 1970s and early 1980s, consumer lending was deregulated, launching a complicated, potentially dangerous product on an unsuspecting public. The timing could not have been worse. Just as corporations were downsizing across America, just when a bidding war for decent family housing was heating up, and just when families lost the all-purpose safety net once provided by the stay-at-home mother, easy credit flooded in, looking just like a life raft to the family that was drowning.

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