Godorn1979 Wrote:
Nov 24, 2012 12:19 PM
Securitization of sub-prime auto loans in full swing. -- Investors place big bets on Buy Here Pay Here used-car dealers - Private equity firms are investing in chains of used-car lots, and auto loans are being packaged into securities much like subprime mortgages. They're attracted by the industry's average profit of 38% for each car sold http://www.latimes.com/business/buy-here-pay-here/la-fi-buyhere-payhere-day-two-20111101,0,2598239,full.story#tugs_story_display "Investor money is pouring into the industry from several sources, helping Buy Here Pay Here dealers expand their reach and raise their profile." Expect birthers, baggers and conservatives to blame Frank-Dodd for this eventual free market meltdown!