Didn't buy any. I was not that big on the opportunity to buy any. From the IPO proceeds VISA is going to take just over $10 billion to buy out the member banks stake in VISA. They have litigation issues and will be putting about $3 billion in escrow to cover that cost. They have settled with AMEX for like $2.25 billion but they also have other pending litigation from Discover Card and others. Just didn't feel right to me.
i got in at 59 as well lol... it went down to 55 and i was thinking "fuck"... but its back to 59-60... if it didn't fall so bad right away it's a good sign
the first thing people do NOT pay in the US when there is money Issues, is the Credit Card Bill.
That is true but has little effect on VISA. What does help VISA is that people when short on money run up their credit card bills and VISA processes those transactions.
A lot of the people that already are past that stage and in money trouble have already maxed out their cards and where not using them even months ago so they are not going to factor into a revenue loss for VISA. VISA also gets paid when you use your debit card that has a VISA logo on it.
Unlike AMEX and Discover Card, VISA has no liability from people defaulting on their VISA card bill. The bank issuing the card is the entity that suffers on a defaulted acct.
hehe, congrads to the winners ..im thinking to pick up even more at 71 if it'll drop down tomorow, this is going high...it was interesting reading all the posts second time -)
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