When you thought you heard it all... http://www.businessinsider.com/citi...nt-wont-lead-to-big-credit-card-losses-2009-5
Would this be the same C that has been so magnificent in running their business this last year or 2 ?? Too big to fail, but not too big to soak up huge amounts of government bailout money...
They're assuming that Fed Funds futures will trade at the "120" handle. In that case, they may be "right".
Bernanke won't even lift the rest of the 25bps interest on reserves to get the futures at 99.99, frigging inflation hawk
You gotta wonder how the economy ever survived before credit cards. Oh yeah, people actually had to save money before they bought something. Go figure
haha Sad bud true. There are now generations who don't even understand that concept, it has never been necessary. Credit card offers shoved down your throat...keeping up with the Joneses.
and having sex with your sister is just a good ole time. hell buy her a drink and charge it on your citi credit card!
I guess that means rising employment won't lead to big credit card profits either, lol. However, there is some common sense left on Wall Street: "CEO Jamie Dimon put it bluntly: 'When unemployment goes up, so do chargeoffs for credit cards. When house prices decline, chargeoffs go up. When both happen, it gets even worse.'" Lol.