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

DEC
06
2009
1,027,985 Points 27 Featured Posts Outside Blog Called Shot Master

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

Happy Holidays!
6:16pm • #1
DEC
31
2009

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!
1:32am • #2

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