Source item
Open original source ↗Is this the New Century/ABX (January 2007) moment for the subprime auto loan market? IYKYK. $CVNA $CACC $ALLY
Quoted context
These are the quoted author’s words.
"This summer, Tricolor Auto, a Texas-based subprime auto lender, was still packaging risky car loans into ABS that ratings agency KBRA stamped with AAA grades... Senior tranches now trade at 78 cents on the dollar, junior slices fetch 12 cents...AAA doesn’t mean AAA." https://t.co/Dd99LuOBtf
RudyHavenstein ↗