Huge bankruptcies for used car firms have exposed Wall Street’s entanglement with the sector. Far from derisking after the Great Recession, banks rebuilt the economy on obscure financial intermediaries that are now sinking.
I remember hearing a prediction about this a couple of years ago. Don’t remember where.
They argued that the used car lenders were now doing the same thing housing lenders were doing in the 00s; And they would have their own version of the 2008 collapse. Seems it’s starting.
I remember hearing a prediction about this a couple of years ago. Don’t remember where.
They argued that the used car lenders were now doing the same thing housing lenders were doing in the 00s; And they would have their own version of the 2008 collapse. Seems it’s starting.