Friday, June 30, 2000
fesub.gif (4328 bytes)
Full Story
 Intel IT update
fe.gif (834 bytes)
India's first e-business paper
flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
Think Tank
This week we focus on a complete analysis of the
diamonds industry
-
 

Six-year-old files for bankruptcy 

 
Little Tommy Spendthrift could not keep a lid on the amount of credit he was given. The boy is proud of the fact that he had 17 different credit cards. The tyke's penchant for toys landed him in hot water with his financial backers.

Apparently, Tommy became addicted to Pokemon Toys and ran up his charge cards. Says Tommy, "I couldn't help it. They made me do it! Visa would wait till I got home from school. It was as if they knew exactly when I'd be home. The phone would ring and they would say, `Hey..Is this Mr Tommy Spendthrift?' They made me sound real important and grown up-like. They told me I needed a credit card in case of an emergency, like if my piggybank broke or something. They told me to get a PO Box Address to send the credit card to. Next thing I know, it came in the mail. "Why, Mastercard would even try to talk to me while I was on recess. Also, a man called American Express challenged me to a game of four square. He said if I won, he could give me a free credit card. After I kicked his butt in, he had me sign this form, and I received the Optima card the next day."

Tommy says his parents never did talk to him about how bad credit cards could be. Apparently, they lectured the boy on getting cooties from girls, not to stick his tongue to metal poles in winter, and about not letting the bed bugs bite stuff. However, mom and dad did not say anything about the evils of going into debt. Currently, Tommy's allowance is being garnished by the credit card companies, and he is filing for bankruptcy.

Courtesy absurdtimes.com

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.