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US auto industry could trigger crisis
15-May-08
Written by Peter Strachan
BRIEFCASE, having recently returned from a visit to the land of the free, has identified the source of a possible new financial scandal in the US, which holds the potential to rock the market in the same way that sub-prime lending for housing has done.
The issue surrounds the US's automobile finance industry, specifically arrangements pertaining to automobile sales.
The two most valuable items most Americans will endeavour to buy are a house and a car.
Last year, we saw how the housing industry had been straining to keep sales running by issuing dodgy debt to folks who had no hope of ever repaying it.
Article continues...
15-May-08
Written by Peter Strachan
BRIEFCASE, having recently returned from a visit to the land of the free, has identified the source of a possible new financial scandal in the US, which holds the potential to rock the market in the same way that sub-prime lending for housing has done.
The issue surrounds the US's automobile finance industry, specifically arrangements pertaining to automobile sales.
The two most valuable items most Americans will endeavour to buy are a house and a car.
Last year, we saw how the housing industry had been straining to keep sales running by issuing dodgy debt to folks who had no hope of ever repaying it.
Article continues...
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Harry Kleyn - Publisher
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