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Auto subprime bubble


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2018 Jul 7, 8:26pm   1,546 views  0 comments

by whitewater   ➕follow (0)   💰tip   ignore  

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.

http://www.goldtelegraph.com/the-auto-subprime-bubble-is-here/
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