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- American Express: "No Longer Tracking to Prior Forecast"
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From American Express: The second quarter results included a $600 million ($374 million after-tax) addition to U.S. lending credit reserves that reflects a deterioration of credit indicators beyond our prior expectation, and a $136 million ($85 million after-tax) charge to the fair market value of the Company’s retained interest in securitized Cardmember loans.
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“Fallout from a weaker U.S….
Original Source:
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21 July, 2008| housingblogs |
@ 13:29