[Eugene Tackleberry]

"The latest trend is that senior citizens are running up big debt on cards. What's happened to that generation? "

Actually, I could see how this would make sense from a financial standpoint. Suppose you don't have any assets to leave to heirs. Why not just run up credit cards and buy stuff for your children and grandchildren? If you are going to die without assets, why not die with credit card debt. It's a transfer of wealth from credit card companies to yourself or your kids.

[HiTech RedNeck]

It's a transfer of wealth from credit card companies to yourself or your kids.

And what happens if the amount outstanding is greater than what the estate (counting life insurance etc.) is worth? The companies eat the remaining debt; they can't go after the heirs for more.

[tdadams]

If you are going to die without assets, why not die with credit card debt. It's a transfer of wealth from credit card companies to yourself or your kids.

And you see nothing unethical about that? What you call a "transfer of wealth" I would call fraud!