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IPFS News Link • Economy - Economics USA

BofA, AmEx May Suffer Catastrophic Credit Card Defaults in 2009

02-19-2009 • Bloomberg.com

“There’s never been a lender of that scale in this predicament,” Robertson said in an interview. “Portfolios that have been required to sell themselves to a lender because they’ve gone underwater have been far smaller.”

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Reported By Jack Gregson

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