The used-car market’s hot streak may be ending as borrowers struggle to make payments and regulators say some auto lenders are “setting up consumers to fail.”
  • scrapeus@feddit.de
    0·
    1 year ago

    Auto bonds increased in kind, as lenders packaged those loans together and sold them as securities on Wall Street, where ratings agencies labeled them as largely safe investments.

    Even the economy nowadays is nostalgic about the 2000s.

    • Pat12@lemmy.world
      0·
      1 year ago

      Auto bonds increased in kind, as lenders packaged those loans together and sold them as securities on Wall Street, where ratings agencies labeled them as largely safe investments.

      can you explain this in layman’s terms? this means the loans that people take to buy cars, they got packaged together and sold as an investment for other people?