We are already trying the sub-prime home loans again. Apparently the first sub-prime crisis wasn’t enough, Just closed om a sale of one of my properties, FHA buyer, it was terrible. Had to close my eyes and ears and just sign. What a joke. The banks are being forced into it, again. In case you don’t know, the anti-redlining joke is back in full bloom.
Their was a day when you had to be qualified for a home loan. Not so today …. So now GM is going sun-prime cars to try and jack up sales.
President Obama has touted General Motors (GM) as a successful example of his administration’s policies. Yet GM’s recovery is built, at least in part, on the increasing use of subprime loans.
The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.
Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM’s growth .
I wonder what the problem with buying cats from a union health-car company is? They just happen to sell cars, that no one wants. The thrill is gone …