The Wall Street Journal analyzed more than $2.5 trillion in subprime loans made since 2000 and found that as the number of subprime loans grew, the loans were being issued to borrowers with better and better credit scores—borrowers who could have qualified for traditional loans with more reasonable terms.
In fact, the WSJ says that at the peak of the subprime boom in 2005 over half of the subprime loans went to people with good credit.
By 2006, 61% of subprime loans were going to people with good or even excellent credit scores.
Why?
The surprisingly high number of subprime loans among more credit-worthy borrowers shows how far such mortgages have spread into the economy -- including middle-class and wealthy communities where they once were scarce. They also affirm that thousands of borrowers took out loans -- perhaps foolishly -- with little or no documentation, or no down payment, or without the income to qualify for a conventional loan of the size they wanted.
The analysis also raises pointed questions about the practices of major mortgage lenders. Many borrowers whose credit scores might have qualified them for more conventional loans say they were pushed into risky subprime loans. They say lenders or brokers aggressively marketed the loans, offering easier and faster approvals -- and playing down or hiding the onerous price paid over the long haul in higher interest rates or stricter repayment terms. As we've 
It has now become common for store to offer, in addition to their regular store-brand credit card, a co-branded Visa, Amex or Mastercard.
But which should you chose? Bankrate breaks it down:
Private label:
Easier to qualify.
One high APR for all.
Low credit limit.
Use only in one store.
Rewards for shopping in store.
Co-branded cards:
APR depends on credit rating.
Variable APR, lower than private label.
Credit limit depends on rating.
Use anywhere.
Rewards for shopping anywhere.
Generally speaking the co-branded cards are a better deal, but some people prefer the store cards because they have low limits and are easier to get. We've never felt the need for a branded credit card aside from the occasional no interest deal (that we paid off within the interest free period.) Do you find that the deals are worth it?
Goldman Sachs has downgraded Citigroup, the nation's largest bank, estimating that it will have to take a $15 billion hit due to its exposure to the subprime meltdown. Two weeks ago, Citigroup estimated that its mortgage related write-downs would total from $8-$11 billion as its CEO, Charles Prince "resigned."
Goldman analyst William Tanona wasn't thrilled with Citigroup's decision to pink-slip its CEO:
"The lack of leadership at this point in Citi's storied history could not have come at a worse time," Goldman analyst William Tanona wrote in a note to clients. "With deteriorating consumer and housing metrics, Citigroup is facing mounting pressure across many businesses." Citigroup's stock is down 39% on the year, and Tanona fears that the subprime debacle may be spreading to the consumer credit markets:
Goldman estimated Citigroup will have to book $15 billion in write-downs over the next two quarters related to its $43 billion in exposure to complex securities called collateralized debt obligations. Citigroup already has said it expects to see a loss of $8 billion to $11 billion on those positions. Goldman expects the bank to take the full $11 billion hit and then another write-down of $4 billion in the first quarter, an estimate based on weakness in indices that serve as proxies for the value of mortgage-related securities.
The situation isn't very sunny outside of the investment-banking unit, either. Citigroup will feel "the pain" of a worsening consumer-credit environment in its retail banking and cards divisions, the Goldman note said. Gosh. It sounds like Citi needs a hug.
HSBC warned today that the subprime meltdown is spreading into credit cards and other types of consumer loans, says the NYT. The bank announced that it will be taking a larger write down than it forecast, due to the spreading delinquencies.