does that mean they're going to forget about my outstandin credit card balances and I'm off the hook with them.
$24 billion in write downs, and 17,000 job loses at least. It's a good thing they've taken care of ATM fraud by limiting the amount and number of times people can withdraw. Now, they just have to sew up the growing scandal of "teller window fraud."
The problem with the sub-prime crisis is that the loses are highly leveraged so potentially they are mind-boggling.
I don't want to see a bank run. I guess I'll go to provider sites and think happy thoughts.
-- Modified on 1/14/2008 11:42:04 AM
Some how I doubt it... I'm expecting magor gov-bailouts are on the way... I recently read that Countrywide is being bought for nothing by some larger bank, (4 billion in stock options, which translates into "nothing")
The financial-limestone foundation of this country is rabidly crumbling under the collective credit burden of the government and the population...
I recommend converting any liquid cash to Euros ASAP! (wrong time to buy gold now it's close to peaking at what the market can bear, IMHO)
does that mean they're going to forget about my outstandin credit card balances and I'm off the hook with them.