Thursday, November 3, 2011
Next Financial Crash: Buy Here Pay Here Used-Car Dealers
According to a
report in the LA Times "Private equity firms are investing in chains of
used-car lots, and auto loans are being packaged into securities much
like subprime mortgages. They're attracted by the industry's average
profit of 38% for each car sold...". Guest hosts Richard Eskow and Brian
Unger discuss on The Young Turks.
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