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Credit Cards: The Next Subprime?

V and MA do not take credit risk; they simply process transactions. They collect toll charges. Most banks have cut back their teaser transfer competition. Most banks now financially underwrite loans for everything. Imagine that. AXP is a buy at these levels. Maybe MBIA and AMBAC will insure credit card defaults since they got into every other dumb business other than muni bonds.
Jun 05 09:02 am |Rating: 0 0 |Link to Comment |View article

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Credit Cards: The Next Subprime?

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