Shaky Economy Hits Credit Card ABS - Congoo

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Shaky economy hits credit card ABS

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Reuters | August 07, 2008

By Nancy Leinfuss - Analysis NEW YORK (Reuters) - As the U.S. economy teeters on the brink of recession the credit-card asset-backed market is showing signs of stress as rising unemployment squeezes consumers further, forcing defaults on credit card payments. Delinquencies on credit cards are rising...

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