Posted 9/19/2023, 3:03:40 PM
Wall Street Profited from Risky Used Car Loans, Leaving Buyers Vulnerable to Defaults
- Wall Street invested heavily in high-interest used car loans for years despite risks
- Loans targeted vulnerable, low-income buyers with limited options
- Buyers were saddled with unsustainably high payments and aggressive repossession policies
- Mass defaults now imminent as economy declines and buyers cannot keep up with payments
- Crisis coming after years of Wall Street profiting off predatory lending practices
