Auto credit bubble?

[Coronita]

There was an article awhile ago in the LA Times about people burning their cars because of the high cost of gas and being upside-down in their car payments. I'll try to dig it up. It has some pretty sobering stats.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[bubba99]

My credit union (Patelco) took a 41 million dollar write off on 150 million in “sub-prime” auto loans, and has declaired their sub-prime issues over.

The loans were apparently made through a “partner” company via a Patelco line of credit. What is a stoggey old Phone company credit union doing making sub-prime loans through a partner auto lender?

They also recently dropped their private depositor insurance through ASI releasing ASI from 40% of their total insured liability, and re-aquired Fed credit union insurance – putting the burden on the tax payer if they go under. Patelco’s chairman was on ASI’s board.

[bubba99]

My credit union (Patelco) took a 41 million dollar write off on 150 million in “sub-prime” auto loans, and has declaired their sub-prime issues over.

The loans were apparently made through a “partner” company via a Patelco line of credit. What is a stoggey old Phone company credit union doing making sub-prime loans through a partner auto lender?

They also recently dropped their private depositor insurance through ASI releasing ASI from 40% of their total insured liability, and re-aquired Fed credit union insurance – putting the burden on the tax payer if they go under. Patelco’s chairman was on ASI’s board.

[bubba99]

My credit union (Patelco) took a 41 million dollar write off on 150 million in “sub-prime” auto loans, and has declaired their sub-prime issues over.

The loans were apparently made through a “partner” company via a Patelco line of credit. What is a stoggey old Phone company credit union doing making sub-prime loans through a partner auto lender?

They also recently dropped their private depositor insurance through ASI releasing ASI from 40% of their total insured liability, and re-aquired Fed credit union insurance – putting the burden on the tax payer if they go under. Patelco’s chairman was on ASI’s board.

[bubba99]

My credit union (Patelco) took a 41 million dollar write off on 150 million in “sub-prime” auto loans, and has declaired their sub-prime issues over.

The loans were apparently made through a “partner” company via a Patelco line of credit. What is a stoggey old Phone company credit union doing making sub-prime loans through a partner auto lender?

They also recently dropped their private depositor insurance through ASI releasing ASI from 40% of their total insured liability, and re-aquired Fed credit union insurance – putting the burden on the tax payer if they go under. Patelco’s chairman was on ASI’s board.

[bubba99]

My credit union (Patelco) took a 41 million dollar write off on 150 million in “sub-prime” auto loans, and has declaired their sub-prime issues over.

The loans were apparently made through a “partner” company via a Patelco line of credit. What is a stoggey old Phone company credit union doing making sub-prime loans through a partner auto lender?

They also recently dropped their private depositor insurance through ASI releasing ASI from 40% of their total insured liability, and re-aquired Fed credit union insurance – putting the burden on the tax payer if they go under. Patelco’s chairman was on ASI’s board.

[paramount]

But of course in beautiful Fallbrook all of those Mercedes,Hummer’s etc…would not be out of place.

[paramount]

But of course in beautiful Fallbrook all of those Mercedes,Hummer’s etc…would not be out of place.

[paramount]

But of course in beautiful Fallbrook all of those Mercedes,Hummer’s etc…would not be out of place.

[paramount]

But of course in beautiful Fallbrook all of those Mercedes,Hummer’s etc…would not be out of place.

[paramount]

But of course in beautiful Fallbrook all of those Mercedes,Hummer’s etc…would not be out of place.

[Author]

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