YIPEEEEEEEEEEEEEEEEEEEEEE CAPITAL ONE IS ON ITS WAY DOWN
I don't think any crash in the credit industry is going to be go
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.
You're right as usual FYI. All the major financial institutions
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.
I am so glad I only have one credit card with a very small limit
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!
YIPEEEEEEEEEEEEEEEEEEEEEE CAPITAL ONE IS ON ITS WAY DOWN
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
Yes, that's not to say major financial institutions didn't bring
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.