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Thread: Subprime Auto Loans

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    Re: Subprime Auto Loans

    Quote Originally Posted by lizzie View Post
    No, but GM losses are now our collective losses.
    And what are these losses?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Subprime Auto Loans

    Quote Originally Posted by Goldenboy219 View Post
    Read up on moral hazard and reply accordingly.
    Cut the crap and just answer the question.

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    Re: Subprime Auto Loans

    Quote Originally Posted by washunut View Post
    The people you are talking about do not have to purchase a new car. Also the sub prime market as you well know is there is for all sorts of people that want more than they can afford.
    Then how do you suggest they get transported around in a way affordable to them?

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    Re: Subprime Auto Loans

    Quote Originally Posted by The_Patriot View Post
    Cut the crap and just answer the question.
    Your question pertained to risk, and there will always be risk in terms of profitability.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Subprime Auto Loans

    Quote Originally Posted by Goldenboy219 View Post
    Your question pertained to risk, and there will always be risk in terms of profitability.
    That's a logical fallacy since the company can do whatever it wants and not take a risk since the government will bail them out.

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    Re: Subprime Auto Loans

    Quote Originally Posted by Goldenboy219 View Post
    And what are these losses?
    These losses are currently still running in the tens of billions, will have to wait and see how the upcoming IPO plays out and when the government actually gets out of GM.

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    Re: Subprime Auto Loans

    Quote Originally Posted by The_Patriot View Post
    That's a logical fallacy since the company can do whatever it wants and not take a risk since the government will bail them out.
    WTF are you talking about? Every firm faces risk in terms of profitability. Your moral hazard (even though you have no idea you made it) comment is on shaky ground being that a plethora of risk is still on the table.

    Btw, how on earth is that a logical fallacy?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Subprime Auto Loans

    Quote Originally Posted by NolaMan View Post
    These losses are currently still running in the tens of billions, will have to wait and see how the upcoming IPO plays out and when the government actually gets out of GM.
    Might as well provide a source for your comment (for the sake of citation).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Subprime Auto Loans

    Quote Originally Posted by samsmart View Post
    Then how do you suggest they get transported around in a way affordable to them?
    What is wrong with a used car. Those sub prime loans need not come from an auto maker.

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    Re: Subprime Auto Loans

    Quote Originally Posted by washunut View Post
    What is wrong with a used car. Those sub prime loans need not come from an auto maker.
    Know why companies give sub-prime loans? They're very profitable. If they weren't, companies wouldn't make them.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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