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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (110644)6/29/2001 7:35:37 AM
From: flatsville  Read Replies (1) of 436258
 
Did you catch this part?

>>>Bankruptcies, which spiked from mid-March to mid-April most likely in anticipation of pending bankruptcy legislation, are another concern for issuers. Bankruptcy reform makes it harder for individuals to wipe out their debts.

But bankruptcies may be the boogeyman of the high-end issuer, analysts said. Indeed, bankruptcies make up 40 percent to 50 percent of losses in prime credit card portfolios, but only 15 percent in non-prime or sub-prime portfolios, according to Barklays Capital.

Higher income folk also have racked up more debt compared with their lower-income counterparts. Saving rates fell from 8.5 percent in the early 1990s to minus 2.1 percent last year for the highest income group in the United States, Barklays said. Meanwhile, the middle and lowest income groups saw their savings rates go up during the same period, Barklays said.<<<
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