Banks And Credit!

As most of you already know that the U.S. Government did a stress test on all the largest banks in the U.S. This stress test has been coming out in waves of information. When the stress test was done the U.S. Government stated that they where not going to release all the information. Then the public stated to think that these banks where in more trouble than we all thought. So they started to release some of the information, only the good things. Then they stated to release some bad information, like most of the banks still had to raise billions of dollars to make it through these hard times. Now today the U.S. Government is stated that most of the biggest banks are still in trouble of losing billions in credit card debt. The Government is expecting the jobless rate to reach 10 percent by years end. And when that happens they feel that 20 to 23 percent of all credit card debt will go sour. And the loss on that would be almost $83 billion. Other experts feel that number is way off. They feel that the real lost would be around $142 billion and could go as high as $185 billion. These experts say that banks have already sold off a lot of it’s credit card debt, which the Government hasn’t included this debt as credit card debt. The banks won’t feel that lose, investors will. Which could drag down the World Markets, which would put us back where we where a few months ago. Hopefully jobs will increase or slow and we won’t get to that point again.