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Auto subprime bubble

By whitewater follow whitewater   2018 Jul 7, 8:26pm 929 views   2 comments   watch   nsfw   quote   share    

Wells Fargo has an exposure of $81 billion in subprime auto loans, although this isn’t listed on paper. JP Morgan has $28 billion in loans to subprime lenders, while Goldman Sachs has $16 trillion. The concept of large banks lending to a number of smaller subprime lenders was supposed to “spread the risk.” However, with the increasing number of auto loan defaults, the risk is boomeranging back to the major banks.
1   HEYYOU   ignore (47)   2018 Jul 7, 10:05pm     ↓ dislike (0)   quote   flag        

What else could this lead to on top of global tariff action?
"The automobile industry has reason to be extremely concerned, especially since these defaults are occurring as the economy is supposed to be growing steadily. The question is, if all is well, how can these subprime auto loan delinquencies be near record highs?"

MAGA! ;-)
2   APOCALYPSEFUCKisShostakovitch   ignore (52)   2018 Jul 7, 10:13pm     ↓ dislike (0)   quote   flag        

Why do you marxist hooligans HATE! INNOVATION! ?

If Goldman Sachs is not FREE! to lend out a trillion dollars on police auction rejects and leave the bill for the defaults on starving taxpayers then FREE!dom ceases to mean anything and AMERICA! has no purpose!

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