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Subprime not failing?

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Okay so this isn't really off-topic but didn't know where else to put it. Has anybody else noticed that we aren't hearing much about the subprime banks failing? HSBC, Credit one, Merrick, etc..........

It's all the prime banks that are failing and that are also cutting limits left and right. Or maybe we just don't hear about it as much because they are smaller? :?

Maybe it's a stupid question but it just occured to me so I thought I would share.

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HSBC just offered me 9G today and I'm almost bankrupt. I would be tempted but I think there is a 6 month rule that I may not want working against me.

This is what I'm talking about! I've been reading on this board this week how people who have had the same card for 10 years, or have A+++ credit, etc. can't get a loan, or CLI, or have had cards or accounts canceled. But HSBC is still apparently chugging along.

I have pretty much all subprime cards and subprime scores to match and have not received a CLD yet. But people with prime cards and prime scores have. :?

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HSBC has lost half its value in the past 6 weeks. In addition, they are a UK bank, and the UK is behind the US in the downcycle.

So Merrick bank...owned by Cardworks which is owned by CompuCredit (symbol CCRT): they are on the brink of FDIC takeover. From $50 to under $3 in 18 months. Down 94%.


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