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To: ild who wrote (214503)	1/14/2003 3:54:19 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

ild, I can't comment on COF's business, but I think there's a tendency to spin these credit numbers in the light that is favorable to you own investment view. If the credit numbers had exploded up, the bears would be saying that COF and others are taking on huge risk that is bound to kill them. If the numbers show a decline, then their business and earnings prospects are declining. I think the reality is that consumers are stretched. Therefore credit related companies should expect losses at the upper end of the historical range or even higher and they should not expect growth to resume any time soon. What you need to do from there is see what the current earnings are, what the price is in relation to the earnings, what the reserves look like, etc..... and see if the individual company is a bad deal or good deal.