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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (9007)	10/8/2010 1:21:09 PM
From: RealMuLan	Read Replies (1) \| Respond to of 12464

OT: [And Greenspan complaining people are not borrowing. LOL]--The U.S. "Consumers cut credit card borrowing for 24th month ... Another cause of the decline in credit is banks' slow recognition that many debts will not be repaid. Banks gave up on $42.5 billion in credit card debt in the first half of 2010, according an analysis by the website CardHub.com. The annual rate is more than twice what it was in 2007. Banks have responded to loan losses by tightening lending standards and reducing credit lines." finance.yahoo.com