Ill tidings
The credit card and car loans giant has slashed its 2007 profits estimate by 20% because of rising loan defaults. Its business model should protect it from becoming the next Countrywide. But it still bodes ill for the US economy.
The credit card and car loans giant has slashed its 2007 profits estimate by 20% because of rising loan defaults. Its business model should protect it from becoming the next Countrywide. But it still bodes ill for the US economy.
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