Capital One Reveals Big Increase in Credit Card Chargeoffs

[girl gone mad]

Capital One Card Charge Offs Hit 9.33% Annualized
http://zerohedge.blogspot.com/2009/04/capital-one-card-charge-offs-hit-933.html">Zero Hedge

Some very ugly credit card charge-off data just out from Capital One. The February annualized rate of 8.06% has spiked by over 1% month-over-month to the current 9.33%, a very troubling deterioration, especially as to what it may portend for delinquency data from bigger brothers such as AXP, but also for the credit card securitization market as well as for upcoming rating agency actions on not just this name, but the entire credit card industry. But at least the TED spread is down.

[DJ13]

1. Raise rates, increase delinquincies and charge offs

Its not rocket surgery you dumb sob's.

[Cronus Protagonist]

2. This is what they want to happen

They can make more money off a bailout than they can from their marks, I mean customers.

[w4rma]

3. And the Rubinites in Obama's administration keep feeding them our money to do this. (nt)

[Cronus Protagonist]

4. So did the entire Bush administration, so....

We can blame the entire lot of them without singling out our own traitors disproportionately.