Well, that's good news I guess

Um, hooray?

Late credit card payments fell sharply in the first quarter, and at least part of the drop can be attributed to the law that kicked in Feb. 22 curbing interest rate hikes and various fees...Average credit card debt also fell in the first quarter, to $5,165. That's down 10.6 percent from $5,776 at the start of last year.

Yeah, we've got more available on the credit line...spend America, spend! It's just like the History Channel (er, excuse me just "History") has been telling me every Sunday evening, that Bank of America has saved us once again! Take that Greece!

Of course, what our nation's wealthy people have exploited us to build, evildoers threaten to split asunder.

[cross-posted at Firedoglake]