There are a few shoes that are next to drop. One of them will be Credit Cards - defaults and the banks that issue the CC companies the money. Or use to lend it, that is.

Troubled financials with a big credit card business should expect more losses as the economy continues to tank.


As unemployment continues to climb, many fears that credit card losses for banks will follow.

NEW YORK (CNNMoney.com) -- Major banks have been hit hard by bad mortgages. Now, fears are growing that troubled financial institutions are going to have another consumer headache to deal with: credit card defaults.
There have been no shortage of warnings about the business as the economy continues to sputter.

Just last month, Bank of America CEO Ken Lewis warned lawmakers at a high-profile Congressional hearing on the government's $700 billion rescue plan that he had no doubts 2009 would be an "awful year" for the credit card industry.
Unfortunately for Lewis and his peers, the nation's leading banks dominate the credit card landscape.
Link & Entire: Banks' future woes in one word: plastic - Mar. 10, 2009