I’m not saying auto loans as a whole are like this. And Joe is right that there are better places to use the capital… and that is because (in large part) of the fact that Auto lending is always neg equity… ESPECIALLY when you factor in how much & how quickly the collateral has depreciated.
Group saved our ass because they made a killing in Europe and Asia this quarter so I still get most of my bonus But I think I need to go to Chicago and collect some of the money Household cost me from everyone that approved horrible subprime ARM’s and the like.
But I think I need to go to Chicago and collect some of the money Household cost me from everyone that approved horrible subprime ARM’s and the like.