Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: RWS who wrote (14558)	3/3/1998 4:17:00 PM
From: Tommaso	Read Replies (2) of 94695

"My understanding is rise in personal bankruptcies are due to "good times" loose lending practices of banks. " Yes--and it's amazing to see them doing(this time on the home front) what was done abroad in Latin America and elsewhere some years ago. When the losses overtake the profits on those 18%+ credit card accounts they will pull back, but it will be too late. What I am wondering is whether the congress will then bail out the banks for their foolish loans. They probably will, if the past is any guide, and the chief officers of the worst banks will be eased out with huge severance packages. At least that is what was going on around 1980, I think it was.

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