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To: patron_anejo_por_favor who wrote (197675)	10/15/2002 5:30:35 PM
From: yard_man	Respond to of 436258

funny how accurately they can predict this stuff -- what a joke >>The company expects charge-offs to rise to the high-6 percent range in the first half of 2003 and then decline somewhat in the second half of 2003. <<

To: patron_anejo_por_favor who wrote (197675)	10/15/2002 5:34:52 PM
From: reaper	Read Replies (1) \| Respond to of 436258

yeah, i saw it. the delinquencies are not really effected by the re-classification, but the net charge-offs are. to be fair i don't think they're spinning the increase in delinquency on the re-classification -- they actually from what i can tell make no real comment about why delinquency is up. couple of interesting things. one, accounts are DOWN sequentially, if i read the release right. but managed loans are UP 7% sequentially; so that would mean that each account has a 7% larger balance, while at the same time delinquenicies and charge-offs are moving up. that can't be good. the other is the decline in marketing expense. you'll have to excuse my skepticism but i frankly do not believe that they cut their marketing expense by literally half in the quarter from the June quarter. i don't think there's anything here to move the stock big one way or the other tomorrow. we will presumably be aided by an overall weak market. Cheers

To: patron_anejo_por_favor who wrote (197675)	10/15/2002 6:52:06 PM
From: orkrious	Read Replies (3) \| Respond to of 436258

after reading about the easy money lines of credit on the thread, I decided to get in on the action. I had applied a few months ago to my bank, CMA, for a home equity loan, and after I gave them last year's tax return they said they wanted the year before. I told them to take a hike. Then I answered one of the mailers I regularly receive. Fleet Bank sent me something and I applied over the web. Presto, I just got a letter in the mail saying I'm approved (with no documentation required) but it's 2 over prime, which seems awfully steep. Does anyone know how much these bozos bargain, or should I just tell them to buzz off?