Reilly Tierney
Reilly Tierney
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Discover card has higher charge-offs than any other prime lender. The only reason people have it is for the cash-back feature, and other cards, like American Express, are beginning to copy that.
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I don't think it's very surprising that financial stocks would be up in this kind of environment, they often lead a turnaround. If the rally continues, they will continue to rise.
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When the settlement came to light, people decided it was absorbable and that the risk was manageable.