First, there is the staggering growth of auto loans outstanding. It should be readily apparent to almost anyone that a 21% expansion in credit issuance over the course of just two years likely implies there has been at least some degradation in underwriting standards.
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3 comments:
I hate to say it , but I will , obama caused all of the issues including this one.(not bush)
Just curious of how many issues of default have been caused by minorities ?
The millions of illegals have to drive something.
Tick-tock, tick-tock.... going to be like the housing crisis. The bomb is ready to blow. Just a matter of time.
Easy money to keep the industry moving so Detroit could payoff the government bailout.
And the other travesty is student loans. We created a society where people could not succeed without a college education, made it easier to get in and pay for it. Now, young grads come out with no skills and tons of debt, can't pay their student loans let alone their car and credit card debt.
We can't keep kicking the can down the road.
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