Credit Card defaults

[JAHOGS]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aaCdPylW8B.U&refer=home

This is just the start of the credit card default problems to come.

It will be interesting to see the next big one reporting big defaults.

[HognotinMemphis]

I made a similar post earlier today and have been saying for a month that this would be the next shoe to drop. Good enough for all the greedy banks throwing CC's at people who have no business using a CC. I hope writeoff's are in the billions for these banks...it will take that to teach them a lesson in issuing credit...the idiots.