Impact of TARP on Credit Cards
By Barry Ritholtz - November 16th, 2008, 10:30AM
In-Depth Look: Impact of TARP on Credit Cards
"Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy." —Groucho Marx
Macro Notes
Jobless ClaimsPeter Boockvar
Initial Jobless Claims totaled 614k, 1k less than expected but the prior month was revised up by 3k to 630k. Continuing Claims fell by 53k from last week and was 38k less than expected. There has been a big discussion of late over the expiration of unemployment insurance and how the recent drop in Continuing Claims is due to people losing it rather than finding a new job. While there is no question benefits are expiring without one finding a job, as evidenced by the rising exhaustion rate, many losing those benefits now started getting them when initial claims were...
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November 16th, 2008 at 5:50 pm
What do you do NEXT year??? Another trillion?? They might as well be talking about colonizing Mars. You can spend money on a program to do it. But, you’re not going to land there this year or next.
So, if the credit card companies can’t securitize, don’t they have to ration credit? Doesn’t that mean that real interest rates should go up?