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New U.S. subprime boom, same old sins: Auto defaults are soaring

Source: Gabrielle Coppola, Bloomberg Markets

It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017.

A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide.

Read Full Article: New U.S. subprime boom, same old sins: Auto defaults are soaring

 
 
 

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