The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Smiling Bob who wrote (104014)	2/8/2008 12:26:15 PM
From: MulhollandDrive	Read Replies (1) of 306849

It seems to me the banks are using the fact that people can no longer do easy cash out refis to pay off their credit cards to milk those credit card balances for all they are worth. you may be right about that, however it seems to me that the paramount issue before banks right now is the need to raise capital to build up current and future increasing loss reserves(higher rates will prompt those who CAN pay to pay down their balance) and those who don't, get higher return on their risk in case anyone hasn't noticed, credit card defaults are rising

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