Refinancing Credit Cards

We were just discussing on Fusion Investor’s Chatbox…
What would happen if the USA decided to do the same with Credit Card debts as they are doing for mortages?
Well, THAT would end the recession instantly! Watch as Consumer Spending shoots through the roof!
…
Until the next quarter when credit card companies announce that their new delinquency rate has shot up to 90%. I dunno, maybe they will announce that their plan is successful beyond their wildest dreams? hahaha.
Yeah I’m imagining now… if those idiots negotiate with American Express and tell them that a condition of the bailout is that they extend similiar facilities as FanMaeFedMac. … American Express declares that they will allow refinancing and will lower interest rates for everyone who is unable to pay them for 3 months.
…
IDIOTS!!!!