Latest credit concern

[Serotta PETE]

Aniedaride - - have you seen this??? :confused:


from CNNFN


$915B bomb in consumers' wallets
1:15pm: Americans have record credit-card debt and banks are starting to sweat an uptick in default rates, reports Fortune's Peter Gumbel. Why some fear this could be the next subprime.

[znfdl]

Hmmm non-collateralized debt, could be interesting.......

I wonder what is the subprime credit card debt to total credit card debt ratio?

[sg8357]

No problem, the latest bankruptcy law update means card holders can't weasel out of their debts, the share holders are safe.
I think the idea is to make cards too painful to use, American spend too much money anyway.
The good news is if you get fired from Merrill Lynch you get 160m$ till you find your next gig.
As Tevya said, "Oh G-d may I be fired from such a job, Amen"

Scott G.
CEO Merrill Lynch, OBE.