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07-30-2009, 03:42 PM #1
AirborneSapper7

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Zuckerman: Credit Card Defaults Will Be Bad

Zuckerman: Credit Card Defaults Will Be Bad

Thursday, July 30, 2009 11:57 AM

By: Julie Crawshaw

Bad as commercial real estate is right now, New York real estate mogul Mort Zuckerman says that credit card defaults will be much worse than commercial real estate defaults.

He estimates they have already reached â€œhundreds of billions of dollars.â€
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