Filed in archive
risk
by leon on October 29, 2008
Banks are tightening up, even cutting back, on credit cards as defaults rise, reports investors.com. With the percentage of credit card loans written off as not being paid on the rise, it is clear that credit cards will be the next shoe to drop.
Innovest ratings agency analyst Laura Nishikawa has told the media that outfits like Bank of America and Citigroup are particularly vulnerable because they relied more heavily on money made from credit cards. True, the amount of exposure is considerably less than mortgage defaults. But you can bet that as the economy deteriorates, it's going to become more of a problem.
Permalink: Will credit cards be the next shoe to drop?
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/137170
Addthis
Ask
Blinklist
del.icio.us
Digg
Fark
Facebook
Google
Lycos
Ma.gnolia
Mr Wong
Netscape
Netvousz
Newsvine
Reddit
StumbleUpon
Slashdot
Tailrank
Technorati
Wink
Yahoo
Vote for Will credit cards be the next shoe to drop?:
|
Rating: 9.67 out of 3 vote(s) cast.
|
Subscribe
Use the search to look for other interesting posts
| RSS |  See all blog subscribe options |
 What is RSS? | |
| Yahoo! |
|
| Addthis |
|
| Bloglines |
|
| Newsletter | |
| Follow us on Twitter! |
