Sun, Nov 10, 2019 8:59 p.m.
I don't understand what you are saying? Every time I turn on the TV I see a black doctor or lawyer, usually the janitor is some stupid white dude. No ******* way are these black folks defaulting on their loans, they are superior and super smart! Just watc
As the bubble in subprime auto continues to grow bigger - even at the same time the auto industry is mired in recession - terms on new loans for new buyers continue to get more burdensome for already broke consumers. In fact, many people are piling on debt to their auto loans that far exceeds the car's value, according to the Wall Street Journal. ... www.zerohedge.com |
Blacks with crappy credit?
No way!
Now about that sub-prime mortgage meltdown....
The first "real" job I had after B-school was as a finance manager at a Honda dealership in SoCal. This was in 2000... I loved that job! I worked with some true characters.
We had Honda credit for people with scores above 620 or so, and numerous options for applicants with less-than-adequate scores. There were 3 tiers of financing. We had almost zero repos from tier one. We got about 10% back from tier two. But tier three came back at about 50% and was almost always a "used" (as opposed to a new Honda).
I could never understand why they offered those loans. The dealership and finance company had to lose a ****-ton of money on those transactions. Yet, we were encouraged to push the loans when no other option would work.
Of course, those loans overwhelmingly went to minorities -- mainly blacks.
2 comments:
These loans will be wiped out by Oprah on her first day in office.Part of her plan to "Ruin America".
"We'll even things up with whites by allowing defaults on loans that blacks might have with white businesses.REPARATIONS...one way or another BABY."
"We will outlaw bankruptcy by white businesses as well--no getting out of it THAT easy."
VOTE OPRAH--LET'S RUIN AMERICA TOGETHER
--GRA
And then when the repo man comes to take the car away the negro is all up in arms. Sometimes literally. That must be a great job. Repo man in a colored area.
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