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Strategies & Market Trends : Value Investing
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To: Don Earl who wrote (14967)7/29/2002 6:13:09 PM
From: TimbaBear  Read Replies (1) of 78639
 
Don

I agree with a lot of what you said about responsibility of the credit card companies to shoulder the burden of delinquencies generated by ill-conceived marketing and underwriting of broad categories of credit risk.

I think today's rally, in part, was relief that the bankruptcy bill got shelved at the last minute. We've got 5 or 6 weeks before it becomes a front-burner issue again.

A wise government would have told the credit card companies if they don't like their default rates, to change their lending practices.

Slowed consumer spending due to changed lending practices is a sounder footing for the economy, IMO, than slowed spending due to the impact of the bankruptcy changes. I believe, too, in addressing the root of the problem rather than only punishing those who are seduced.

Timba
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