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 Posted: Thu Jan 10, 2008 5:48 pm Subject: YIPEEEEEEEEEEEEEEEEEEEEEE CAPITAL ONE IS ON ITS WAY DOWN |
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EVERYONE READ THE FINANCIAL HEADLINES AT MSN CAPITAL ONE IS ON ITS WAY DOWN
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JamesInTn
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| Posted: Thu Jan 10, 2008 6:37 pm Subject: |
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Can you give a URL I can't find the story???
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Lren0318
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volleyballmom
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| Posted: Thu Jan 10, 2008 8:22 pm Subject: |
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I don't think any crash in the credit industry is going to be good for the economy. Look what happened when the mortgage industry headed into decline. We a very close to being steps away from making even more Americans poorer and poorer. The credit industry is what is holding the boats afloat because too many Americans depend on it.
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FYI
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| Posted: Thu Jan 10, 2008 8:31 pm Subject: |
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You're right as usual FYI. All the major financial institutions will be caught up in the subprime lending fiasco. The economy is well on its way down, just think, the Canadian dollar is about equal to the American, the British pound higher against the dollar in over 25 years, the Euro... More business for collection firms? Not in an article I read on the ARMs website. One leader in the collections industry said that more and more people will be budgeting themselves, for kids, food, car, etc., and thier budget won't include collectors. Indeed he said that this down turn could force many smaller collection firms out of business.
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The science is in knowing, the art is in perceiving - Robert Fripp (1946-)
Ever get the feeling you've been cheated? - Johnny Rotten (John Lydon) (1956-)
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LawStudent
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| Posted: Thu Jan 10, 2008 8:37 pm Subject: |
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I am so glad I only have one credit card with a very small limit on it. Not enough room to get me into trouble!
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FYI
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| Posted: Thu Jan 10, 2008 8:57 pm Subject: YIPEEEEEEEEEEEEEEEEEEEEEE CAPITAL ONE IS ON ITS WAY DOWN |
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well i happen to feel that the credit industry is not keeping things afloat imo the war in iraq is because it is creating jobs to furnish they items they need over there.people who work is what keeps thee credit industry afloat if not for people asking for credit and having the money to repay it there would be no industry at all.as for the post refering to budgets,i feel everyone should be on one of those anyways and when it comes to kids and food for them that is a priority.not to pay attorneys to fight other attorneys hired by debt collection agencys which are hired by credit cards mostly for money they basiccally done wrote off on taxes in order to not pay the goverment
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JamesInTn
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| Posted: Thu Jan 10, 2008 9:01 pm Subject: |
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Yes, that's not to say major financial institutions didn't bring it on themselves, what with deregulations, preditory mortgage lending, preditory credit card offerings... It was a complete industry of greed, and now the time's coming to pay the piper. Only thing is, look how many people they'll bring down with them.
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He who has freed himself of the disease of "tomorrow" has a chance to attain what he came here for. --G. I. Gurdjieff (1872-1949)
The science is in knowing, the art is in perceiving - Robert Fripp (1946-)
Ever get the feeling you've been cheated? - Johnny Rotten (John Lydon) (1956-)
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LawStudent
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