So Wonks Anonymous, who happens to have a pretty damn good credit rating, just got notice from a major money center bank that his credit card interest rate would go up by 10%, to prime plus 20%, starting in January.

Wonks Anonymous suspects that this is happening all over the country. If it is he would say that we are in for further economic collapse. He does not expect that Hank "Hands Off" Paulson will try to do much about this.

In other news on this topic the Bush Administration does not support the idea of global coordination of regulation to deal with the financial crisis. We are, after all, terminally unique and will need to do things our own way.

Why do we have to wait until January 20, 2009?