|Thanks Ben Bernanke: Using A Shotgun As Down Payment For A Car|
|ZeroHedge, 03/04/2013 (traduire en Français )|
How The Fed Fueled An Explosion In Subprime Auto Loans
loans to subprime borrowers are surging - up 18% in 2012 YoY, to 6.6 million borrowers.
Nelsons had to do was cover the $1,000 down payment. For most of that amount, Maloy accepted Jeffrey's 12-gauge Mossberg & Sons shotgun, valued at about $700 online.
they have been selling ever-greater amounts of subprime auto loans in the form of relatively high-yield securities
Consider that in 2012, lenders sold $18.5 billion in securities backed by subprime auto loans, compared with $11.75 billion in 2011
|Fools Never Learn|
|Mish's Global Economic Trend Analysis, Mike Shedlock, 03/04/2013 (traduire en Français )|
Proving that fools never learn, the Obama administration pushes banks to make home loans to people with weaker credit
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
Endettez vous, endettez vous ! Il faut chier de la dette !
Le système l'exige !
La déflation c'est le mââââl !
Road to serfdom...