Auto Loans: A Subprime Market Grows in the Shadows | Businessweek


Six years later, investors are snapping up a new crop of subprime bonds, this one backed by auto loans. Ratings companies are awarding the bonds top grades, and buyers have almost no way to determine the accuracy of the information they get about them.

“Investors are basically taking the issuer’s word that they follow certain procedures”

via Auto Loans: A Subprime Market Grows in the Shadows – Businessweek.

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