Latest Subprime Scandal May Be Sitting in Your Driveway!
Companies / Credit Crisis 2014 Jul 22, 2014 - 10:33 AM GMTShah Gilani writes: Back in April I wrote about the initial public offering from Ally Financial Inc. (NYSE: ALLY). I told you about how they were loading up the truck with subprime auto loans, and how that lending game was too reminiscent of the subprime mortgage buildup and subsequent crisis to not warrant a déjà vu-all-over-again feeling.
I’m no longer one of the only muckrakers warning that the subprime auto loan space is sleazy and potentially dangerous to our economic health.
I usually don’t trust or link to pieces in the mainstream media. But this really caught my attention… so I wanted to share…
And the Next Subprime Bubble Is…
The DealBook blog from The New York Times had an absolutely brilliant piece the other day titled “In a Subprime Bubble for Used Cars, Borrowers Pay Sky-High Rates.”
Here’s the piece by Jessica Silver-Greenberg and Michael Corkery. This ties in with so much of what I’ve been saying recently: the so-called housing recovery, the student loan fiasco, the dangerously sky-high stock market. I could go on…
You have to read it.
I don’t do this often, but I can’t add much to what Silver-Greenberg and Corkery have exposed. So, I’ll let you digest this today and ask you for your comments.
Money Morning/The Money Map Report
©2014 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com
Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.
Money Morning Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.