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FICO CEO says “worst is yet to come” for mortgage problems
Monday, March 16th, 2009 | Economics |
FICO CEO Michael Porter on CNBC, via Calculated Risk: “Before we do the credit cards, we are actually not done with the mortgage [crisis] - the worst of that is yet to come in fact. The thing about mortgages is you can predict when they are going to reset and you can sort of see what is coming. We easily have another 12 to 18 months of pretty ugly times in terms of mortgage resetting. … Credit cards are next.”
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