Fannie Mae was established in 1938 to provide low-interest loans to middle-class Americans. Demand for its services took off after the WWII when the country got completely out of the Great Depression.
First credit cards became available to consumers in late forties, and in the fifties Bank of America introduced what is today known as Visa card.
Most of non-military computer hardware and applications were developed for the booming financial services industry. This is why I think that mass consumer credit lead to computer revolution.
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timeasmymeasure
Re: about this
Date: 2007-10-17 04:10 am (UTC)Fannie Mae was established in 1938 to provide low-interest loans to middle-class Americans. Demand for its services took off after the WWII when the country got completely out of the Great Depression.
First credit cards became available to consumers in late forties, and in the fifties Bank of America introduced what is today known as Visa card.
Most of non-military computer hardware and applications were developed for the booming financial services industry. This is why I think that mass consumer credit lead to computer revolution.