Will credit crisis replace mortgage crisis?
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Will credit crisis replace mortgage crisis?
Well when you listen to the financial news what scares me is all the credit card debt in this country.
If President Bush's rescue package really was too little too late, and we go into a deep recession or depression, lots of people wont be able to pay.
So will the credit card outfits expect the same intervention as the mortgage holders got?
Do they "bundle" the credit card debt and resell it like they do mortgages?
Are there "sub-prime" credit cards, or is all credit card debt the same?
If President Bush's rescue package really was too little too late, and we go into a deep recession or depression, lots of people wont be able to pay.
So will the credit card outfits expect the same intervention as the mortgage holders got?
Do they "bundle" the credit card debt and resell it like they do mortgages?
Are there "sub-prime" credit cards, or is all credit card debt the same?
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
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