The FT believes that search engines and web portals will be hurt by the fall-out from the mortgage and credit card industries. Companies like Countrywide (CFC) and Bank One are big advertisers on Google (GOOG) and Yahoo! (YHOO) as are companies that allow consumers to track their credit reports.
The head of Microsoft’s (MSFT) MSN says that a most sub-prime advertising is gone.
If the lending crisis moves to the credit card business, search companies could really be hurt and it would begin to show up in Q3 results.
Douglas A. McIntyre
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