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Thursday, May 14, 2009 4:09:50 PM
Banks will have to return the money - with interest - interest is at a HIGH rate - that will not help the cause.
When Chrysler go BK - which they already filed, and GM follows - which they are more then likely too - the banks that have LARGE LOANS to them - will likely have to settle for pennies on the dollar.
I could go on - but no need - add to that the other problems and commercial real estate foreclosures now starting to become a problem..... Credit card debt is now at $2.95 Trillion and the next crisis is expected to be the Credit Card Crisis.
Then - consider the auto repossesions that will be coming with the increase of jobless people!
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