« Back to story "Rising Credit Card Losses Are Next Challenge for Banks"

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Posted by: deathray 7 months, 3 weeks ago

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deathray7 months, 3 weeks ago

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fta:

"Experts predict that millions of Americans will not be able to pay off their debts, leaving a gaping hole at ailing banks still trying to recover from the housing bust.

The bank stress test results, released Thursday, suggested that the nation’s 19 biggest banks could expect nearly $82.4 billion in credit card losses by the end of 2010 under what federal regulators called a “worst-case” economic situation."

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  tchef7 months, 2 weeks ago
  
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  Unfortunately we found out today that the government scaled back the amount of money it said the banks needed at the request of the banks. What good is the stress test if you are going to change the results to suit the banks.
  
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