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DS News Reports: "Banks Charge Offs now exceed depression era levels"

DS News, one of the default industries leading publications reports that banks are now charging off loan debts faster than in the great depression.

According the "Moodys" which is a firm that reports data and reports credit ratings... only included data from the largest of firms for these numbers, which means that information from many of the hardest hitting banks is not includeded in these numbers.

With the credit crisis continuing many banks are projecting "bleak" profits 4th quarter in to 2010. To read the actual article click here

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SELL A HOME....CLICK HERE

BUY A HOME....CLICK HERE

Your Northern Virginia Realtor 703 407 7088 Konnie Mac FREE No Strings attached...

search MLS to to www.KonnieMac.com

Realty Direct, 44075 Pipeline Plaza Ashburn, Virginia

www.ManassasHomeSearch.com

If you are looking to purchase a home in Northern Virginia go to www.KonnieMac.com for free no strings attached home search.

Posted by Konnie McKee. Associate Broker CDPE, RDCpro, Northern VA Real Estate on 11/02/2009 08:36 PM

Comments (2)

This post has been included in Virginia Information Prince William County, VA Information

2 Comments on DS News Reports: "Banks Charge Offs now exceed depression era levels"

DEC

I wonder if it's because the federal government is re-imbursing them for those chargeoffs.

Happy Holidays!

DEC

Looks like those profits picked up quite quickly with so many banks repaying the Federal Government. So much for nationalized banking that all the right-wing conservatives were screaming about.

Happy New Year!

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Konnie McKee. Associate Broker CDPE, RDCpro, Northern VA Real Estate

Haymarket, VA

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