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To: Grandk who wrote (36341)	11/10/2000 5:31:24 PM
From: pater tenebrarum	Respond to of 436258

that's not enough...we need something more concrete, like a warning. but no doubt the banks WILL be hit, as the market increasingly focuses on mounting credit and trading losses.

To: Grandk who wrote (36341)	11/11/2000 1:56:56 AM
From: TheStockFairy	Read Replies (1) \| Respond to of 436258

<<<http://biz.yahoo.com/rf/001110/n10128529.html Hopefully this news will kick the selling into overdrive on C >>>>> My wife pointed this out. All that artical says is that Bank One fuc@ed up. What they did was take out the grace period on their credit cards and lost, for sake of argument, 10% of their cream customers to other credit card companies. So their portfolio was 10% less and therefore they had a higher percentage of crappy payers. The same amounts of defaults occurred, but it was a larger percentage of their portfolio. Then, they said they put back in the grace period.