Posted on 06/01/2011 1:37:02 AM PDT by Daisyjane69
(Reuters) - Ally Financial Inc, the United States' largest maker of car loans, hopes that people have forgotten the time when "subprime" became a synonym for "disaster."
Ally, once known as GMAC Financial Services, is getting ready to go public this year, and is making the case that subprime loans for used car buyers are not about to produce the same results that they did in the housing market a few years ago -- a near-collapse of the financial system.
Auto loans performed relatively well during the downturn, and demand for cars is up, so auto lending is one of the few types of consumer debt that is growing.
Ally wants to show investors that this makes it different from many other banks, which are struggling with weak loan demand and their own soured mortgages.
The company is making more loans to subprime borrowers, and financing more purchases of used cars, both steps with higher risk. It has said it wants to raise the percentage of auto loans on used cars that it makes to 50 percent from its current 20 percent.
(Excerpt) Read more at reuters.com ...
“True enough, but we still need to acknowledge the responsibility of the borrower, regardless of whatever other parties may do proper or improper things, it does not absolve the borrower from the responsibility of borrowing the money.”
Exactly.
Good thing you have me to write your posts for you.
Otherwise you would have to form concepts on your own, and quite frankly that doesn’t seem to be your strong point.
Why do you care who services your mortgage?
As long as they credit your payments correctly it doesn’t affect you.
Well, I agree, people DO care WHO services their mortgage.
Why do people like you think we shouldn’t care?
Some people KNOW that some banks are idiots. They wouldn’t trust them to have their mortgage EVER.
Why do people think others who don’t like it, should just shut up?
Why do you care that they do care?
If you get that emotional about where you send an envelope every month maybe you shouldn’t take out a loan.
lol
/agree
If you set yourself up to borrow from an idiot what does that make you exactly?
Then you must work for a bank, and never had a problem with one.
What will you do when you do have them steal you blind?
Are you for the rule of law or not?
I just moved $200k out of an account there monday, maybe it was a good move.
Going to keep tabs on them, maybe i’ll move the rest out.
Yes, ladyjane, don’t you understand?
If you don’t think banks are evil and blame them for everyone else’s problems, then you must be in on the evil conspiracy!
If you don’t see that banks are evil, then you *must* work for one.
Nothing else could possibly explain why you don’t hate them with a passion.
/sarcasm off
So which is it?
“...you would have to form concepts on your own...”
I guess you forgot this post:
Banks should FAIL AND NOT GET BAILOUTS WITH TAXPAYER MONEY FOR THEIR STUIPD MISTAKES. That would be conservative, and not the FASCIST bull you are trying to sell.
SOCILAIZED losses and PRIVATIZED gains is FASCISM.
Debt slavery is NOT capitalism.
And you can’t count, or read.
pity you’re so lame
An attempt at personal attacks,
how original, lame brain.
“If you get that emotional about where you send an envelope every month maybe you shouldn’t take out a loan.”
Not much of a lady, are you?
Since when does it matter to YOU if other people don’t like the bank that gets their loan, after they went somewhere else it do just that?
Control freak, anyone?
Ok you’re right.
You did form one concept on your own.
It’s only *most* or your posts on the issue that simply cut and pasted my posts.
The rest where mostly name-calling, and you did form one concept, namely: Banks are the devil.
Good for you.
pot meet kettle
Reading comprehension is tough for you, isn’t it?
That was not name calling.
Anyone who defends the FED is for FASCISM.
Deal with that fact, which you have avoided.
And the name calling was yours, and is a typical shill FED rent boy tactic that doesn’t impress me, or anyone else with a brain.
FED rent boy
This all seems so silly. It’s just an address on an envelope or a click on the bill pay page if paying by computer.
There is no need to have an emotional attachment to the original bank. They planned to package it up and sell it from the beginning. That’s how it all works.
Don’t worry we get it.
We all understood your one idea 40 posts back when you first started repeating it endlessly like a slobbering victimhood zombie bellied up to the government cheeseline.
I know.
Some have yet to grow up and experience the reality of life.
Methinks there is more to this hatred of banks than meets the eye, or that you would hear about on a forum like this, like excessive debt and victimhood, etc., which are, of course, the real enemy of individual freedom.
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