Capital One Marketing Cost Spiral

Capital One Financial Corporation (NYSE: COF) 2006 Q2 marketing expenses increased $79.7 million to $356.7 million from $277.0 million in the Q2 2005. This is a huge increase. No real info on the split between deposits and loan acquisition costs. The stock has suffered. But what signs may be found that the worst is behind? If the economy worsens and you have to spend radically more money to find and retain customers the prognosis becomes poor. Management does not seem to be covering these issues.