Capital One, one of the nation's largest credit card companies, said
yesterday that profit in the second quarter fell by 40 percent and it
warned that more customers are defaulting on their loans.

The McLean financial giant, which in recent years has diversified
operations by adding retail banking and auto lending services, blamed
the economic downturn for the rise in defaults and said the trend is
expected to continue through the end of the year.

"We view the scenario as consistent with the views that the U.S. is in
recession," Gary Perlin, Capital One's chief financial officer, said in
a conference call with analysts.

* * *

Friday, July 18, 2008

Merrill Lynch reported a $4.65 billion loss during its second quarter
yesterday, surpassing the expectations of the most pessimistic analysts
and underscoring the continued toll of the subprime mortgage meltdown
even as economists and policymakers turn their attention to other
economic threats such as inflation.

It is the fourth consecutive quarter in the red for Merrill, the
nation's third-largest investment bank, and the firm has now piled up
$19 billion in losses over the past year because of the credit crisis
and its exposure to the troubled mortgage industry.

* * *

Consumer prices surged 5 percent over the past year, the Labor
Department said yesterday, as inflationary pressures spread ominously
beyond energy and food to other parts of the economy.

The report said consumer prices jumped 1.1 percent in June, the
second-biggest monthly increase since 1982, and heightened concerns that
the U.S. economy may be facing its worst bout of stagflation -- a
combination of rising prices and sluggish growth -- in almost three
decades.

* * *

Enjoy.

On Fri, 18 Jul 2008 06:39:50 -0400, HK wrote:

Well Harry, you are off the list until after the election.

Have fun.

..

Short Wave Sportfishing wrote:
On Fri, 18 Jul 2008 06:39:50 -0400, HK wrote:

Well Harry, you are off the list until after the election.

Have fun.


I'm sorry you cannot deal with reality.

I sure as hell would not want to be an equity holder in Freddie or
Fannie, hey?

..

"HK" wrote in message
...
Short Wave Sportfishing wrote:
On Fri, 18 Jul 2008 06:39:50 -0400, HK wrote:

Well Harry, you are off the list until after the election.

Have fun.


I'm sorry you cannot deal with reality.

I sure as hell would not want to be an equity holder in Freddie or Fannie,
hey?

I would posit that money invested in either today will show a nice return in
12 months.

D.Duck wrote:
"HK" wrote in message
...
Short Wave Sportfishing wrote:
On Fri, 18 Jul 2008 06:39:50 -0400, HK wrote:

Well Harry, you are off the list until after the election.

Have fun.

I'm sorry you cannot deal with reality.

I sure as hell would not want to be an equity holder in Freddie or Fannie,
hey?

I would posit that money invested in either today will show a nice return in
12 months.



You mean in short selling? :) At the moment, they have about $80
billion in cash assets and about $6 trillion in loans.

"HK" wrote in message
...
D.Duck wrote:
"HK" wrote in message
...
Short Wave Sportfishing wrote:
On Fri, 18 Jul 2008 06:39:50 -0400, HK wrote:

Well Harry, you are off the list until after the election.

Have fun.

I'm sorry you cannot deal with reality.

I sure as hell would not want to be an equity holder in Freddie or
Fannie, hey?

I would posit that money invested in either today will show a nice return
in 12 months.

You mean in short selling? :) At the moment, they have about $80
billion in cash assets and about $6 trillion in loans.

And the Fed is ready to print whatever it takes to keep both afloat, if
necessary.

Eisboch

HK wrote in news:6eba7dF66fmsU1
@mid.individual.net:

Capital One, one of the nation's largest credit card companies, said
yesterday that profit in the second quarter fell by 40 percent and it
warned that more customers are defaulting on their loans.



Just in time! The 5th or 6th collection company sent me a bill and letter
about my 1997 Yamaha Waverunner I returned to Yamaha-Suzuki-DooDoo of
Charleston under the Magnusson-Moss Warranty Protection Act (15USC50 2304)
in 1997...defective product, no repairs under 4-year-extended warranty.

They wanted to settle my $20,000 principal and accrued interest in my
account for $3000, saving me $17,000 on a boat I haven't owned since
returning it to its crooked dealer within 2.5 miles of my home, as required
by law.

I sent them my form letter informing them to contact the dealer for payment
of the full amount as he stole their money by not refunding it to them
under Federal Law. The form letter is on my attorney's law firm
letterhead, of course, adding weight to the gravity in the envelope.

The bad paper people keep selling these bad papers to other bad paper
people, ad nauseum, in hopes of finding someone who gives a **** about it.
The form letter reminds them that any mention of this as a bad loan on my
credit report WILL result in an immediate litigation far in excess of any
payment they can dream up.....(c;

HK wrote:


Capital One, one of the nation's largest credit card companies, said
yesterday that profit in the second quarter fell by 40 percent and it
warned that more customers are defaulting on their loans.

The McLean financial giant, which in recent years has diversified
operations by adding retail banking and auto lending services, blamed
the economic downturn for the rise in defaults and said the trend is
expected to continue through the end of the year.

"We view the scenario as consistent with the views that the U.S. is in
recession," Gary Perlin, Capital One's chief financial officer, said in
a conference call with analysts.

* * *

Friday, July 18, 2008

Merrill Lynch reported a $4.65 billion loss during its second quarter
yesterday, surpassing the expectations of the most pessimistic analysts
and underscoring the continued toll of the subprime mortgage meltdown
even as economists and policymakers turn their attention to other
economic threats such as inflation.

It is the fourth consecutive quarter in the red for Merrill, the
nation's third-largest investment bank, and the firm has now piled up
$19 billion in losses over the past year because of the credit crisis
and its exposure to the troubled mortgage industry.

* * *

Consumer prices surged 5 percent over the past year, the Labor
Department said yesterday, as inflationary pressures spread ominously
beyond energy and food to other parts of the economy.

The report said consumer prices jumped 1.1 percent in June, the
second-biggest monthly increase since 1982, and heightened concerns that
the U.S. economy may be facing its worst bout of stagflation -- a
combination of rising prices and sluggish growth -- in almost three
decades.

* * *

Enjoy.


Harry, you must be a lot of fun at a party.