Will this mean more layoffs in Delaware?

Filed in National by on March 10, 2009

Of the nearly $76 billion in credit card loans in 2008, nearly $46 billion came from Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Citigroup (C, Fortune 500) alone, according to credit rating agency Moody’s.

Fearing a wave of credit card-related losses, banks have been aggressively setting aside funds to help cushion the blow. One problem, note analysts, is that banks aren’t quite sure just how severe the losses will be.

Any of our “risk management” readers want to chime in? You know it’s bad right? And you know the guys up top don’t want to hear how bad it really is, right?

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Comments (3)

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  1. Nancy Willing says:
    March 10, 2009 at 10:59 am

    IS there no end to socialization of risk and privatization of profits?

  2. Unstable Isotope says:
    March 10, 2009 at 1:24 pm

    Recent history does not give me much optimism that they’ve set aside enough reserves.

    Perhaps we should have KWS read this, since she’s thinking about doing the opposite.

  3. feces throwing monkey says:
    March 10, 2009 at 11:16 pm

    dont pay em! Republicans say let the banks fail, I say let the credit card companies fail. dont pay em.

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