John Rice Carter: “Six months ago, a small businessman was called into a financial lending institution and asked to come in and talk to the…”

“Six months ago, a small businessman was called into a financial lending institution and asked to come in and talk to the officer in charge. He went into that office and the officer in charge told him, You have been a customer of this organization for quite a few years and we have constantly been giving you a line of credit every summer to continue your operation for the next year. This year our examiners have noted for us and also through our board of directors we've examined your operation and your borrowing patterns. Here's what we've discovered: We've discovered that where you had a going facility and you were doing well and you were employing people and things were going well, we've started to see a trend in your business to where you are increasing your debt more and more and more. Not only were you spending our line of credit that this bank lent to you to continue your operations throughout the year, but outside of that line of credit, you were accumulating many, many, many credit cards. And now at this point in time, it is our understanding and the way we look at it is not only are you using our line of credit that we gave you but you also have maxed out every credit card you have got, and, quite honestly, we are amazed at the number of credit cards you actually have. We didn't really know anybody could have that many credit cards.…”