Action: Select each combination of credit control areas, risk categories and document types for which credit checking should be bypassed. Moreover, since I was registered living in Killeen, Texas at the time, I felt that having a local Texas State or regional company handle my debt management and negotiations with tough-guys like CITIGROUP would be very beneficial in both the short and long terms.
However the purchase of Bear Stearns (including its valuable New York office building) in the midst of this Extreme Risk crisis is an example of a survivor (J P Morgan Chase) taking over a failing competitor based on ‘fire sale’ asset values; asset values were falling rapidly as inter-bank credit evaporated and banks frantically chased cash to meet margin calls and other obligations falling due.
As more and more consumers find themselves deeper and deeper in unsecured debt (think credit cards), more and more for profit …