$2B in Subprime Car Loans defaulted today under Tricolor, a usurymaxxing firm giving ultrahigh interest loans to illegal immigrant and Blaxicans.Not enough buyers for the debts. Contagion likely. Debtmaxxers win.
>>60961034
The altimas are getting repo'd?ITS OVER
>>60961097Lol, altimas are everywhere in TexasWhen trump raids their job sites, of course the employers let them go, and they default on their vehicles
>>60961034>As Bloomberg reports, the details behind the collapse of Tricolor remain uncertain, with federal investigators looking into possible fraud and banks exploring whether the same collateral was pledged to multiple lenders.>Those banks, including JPMorgan Chase & Co. and Fifth Third Bancorp, have begun to forensically examine their own collateral to try to ascertain the magnitude of the losses.>Signs are emerging that it may have been widespread. Banks are exploring whether the same collateral was pledged to multiple lenders.>Earlier this week, holders of Tricolor’s asset-backed bonds didn’t receive some scheduled payments, according to people with knowledge of the matter.Tricolor was a derivative^2 leveraged ponzi scheme, is what that means. 2b is just the surface layer.>They also didn’t get a remittance report - the regular statement detailing cash collected from borrowers and how it’s distributed — the people said.>The company listed more than 25,000 creditors, vendors and other affected parties in its bankruptcy filing.>If collateral-backed subprime auto-lenders are collapsing, how long before default rates on Buy-Now, Pay-Later entities start to soar?>As The Wall Street Journal noted earlier in the week, many young people borrowed to buy cars during the pandemic when they didn’t have to make student loan payments. Now they are struggling to repay both.
>>60961204>with federal investigators looking into possible fraud and banks exploring whether the same collateral was pledged to multiple lenders.This is the kinda shit that proves feds don't give a fuck about monitoring crime and prosecuting it.I as an individual have rights to privacy. Businesses do not. It's very different for the FBI to monitor me, vs having regular auditing of a corporation.Of course the FBI is being bribed with tax dollars through conflict of interest.
>>60961210It’s going to start soon.
2b is nothing in the grand scheme of things and I don't think it will get over 100b.Nothing will happen as per the chant.But a liquidity crisis is on the horizon.
>>609610342B? tether and usdc print that in a couple days
As non retards can see, the jeet consensus in this thread is that nothing will come of this. They are wrong and brown. This shit is just the start.
>>60962102comparing house vs a car mortages is if anything a nominal misconstruct but hey, go short and post liq price if (You) so sure about this.
>>60962143>a car mortgageLmao wtf is a car mortgage you brown retard?
>>60962155I died at this kek
>>60962102nothingburgeryou will remain poorI will remain richMy bank account is safu>>60962143thisAlso most of these cars will get retaken except some mestizzos that took them back home i guess
>>60962143
>>60962163>the cars will get repossessed (not retaken you stupid esl jeet) so this means nothingHoly shit you have no idea how loans and leverage work please put your rupees in an index and never post again.>mestizzosYou mean spics?>if they took them home they won't be (retaken)So you also have no idea how repossession works kek.
>>60962201and you have no idea real estate and car rentals are not on the same level you pea brained motherfucker
>>60962155>>60962162>>60962169oh no!! I did not call the exact name in mutt american language, it's over!!!!
Collateral in the context of an auto loan is the car itself right, so they’re saying allegedly they took out multiple loans on the same car? How does that happen, isn’t there like some sort of centralized lien system for automobiles I thought?Otherwise if its collateral for the companies loan the bank should’ve taken ownership Kek and it’s their own fault. It’s not really collateral if you can’t repossess it
>>60962233long story short, the fed will bail them and the goyim will pay for this with taxes, nothing ever happens.
>>60962252I don’t disagree but I want to know specifics. If the banks didn’t secure their collateral then everyone should mint money this way.
>>60961097An Altima getting repo'd is like a fish breathing water
>>609610342 Billions? That is pocket change nigga.
>>60962205When did I say they were retard? Too brown to read post IDs?>>60962207>m mutt!Yes you are brown thanks for confirming retarded jeet.
>>60962265>he thinks the jews are worth of trustkek, they kill infants for breakfast, you don't think they will lie and use the same colateral every time they can? who is going to whistle blow them? another jew bank? kek, not likely.
>>60962355>t. nigger
>>60961204>Hurr durr is $2b bix noodTricolor was a derivative^2 leveraged ponzi scheme, is what that means. 2b is just the surface layer.>Tricolor was a derivative^2 leveraged ponzi scheme, is what that means. 2b is just the surface layer.Tricolor was a derivative^2 leveraged ponzi scheme, is what that means. 2b is just the surface layer.
>>60961034Source ?
>>60961034>Subprime Car Loansthats my kind of investment, and i say that as someone who fucks crackwhores raw
>give fraudulent loan to illegal immigrant because "not my problem">take fraudulent loan knowing fully well you will never pay it back because "not my problem"well, whose problem is it then?
>>60962233>multiple loads on the same car It’s a 2b derivative, as others here have mentioned. Which means the fraudulent debt has been rehypothicated, and with significant leverage. 2 billion is just from a cursory survey. It could be 10s of billions just on the surface. Then multiply that by the rehypothication of nonexistent collateral and you have a real problem. Yes.
just wait till this domino slams into the CMBS dominothis is going to get fun!
>>60961034zero reaction from markets today, nothing burger
