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#1 Russ Winter

Russ Winter

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Posted 17 June 2009 - 08:36 AM

A chart from the Fed follows up on the credit card item I posted yesterday.  Seems (and logically) that credit card default (charge offs) is directly correlated with the unemployment rate. If so, some ugly numbers lay ahead.


To me it looks like the subprime situation has overshot. The old AAA subprime tranches are trading at [...]

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