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October 6, 2010 at 9:29 PM #614380
eavesdropper
Participant

[quote=flu]…AND….

Sub-prime financing is back at GM via the (new) GM Financial….

http://www.autoblog.com/2010/10/03/gm-completes-buy-of-americredit-renaming-gm-financial/

LOL, we never learn do we?[/quote]

I didn’t get the memo. Were we supposed to?

I keep reading about how everyday American citizens lived far beyond their means for years, thus were disproportionately responsible for the meltdown. But I never read anything about how lenders (big banks, subprime merchandisers, and government-backed GSEs) can’t seem to back away from their risky lending practices. Guess it’s hard saying no to all that easy money…..