GM announced today that it is buying Americredit Inc, which makes loans to consumers with credit scores below 620.
GM, majority owned by taxpayers, is buying a company that makes car loans to shoppers with poor credit. Unlike home loans, though, the risk in subprime auto lending is relatively low and may reward GM. [...]
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Here is an article written by Eileen Ambrose of the Baltimore Sun that features some comments from me. Essentially, Eileen talked with Andrew Lo, a professor at MIT, where he compared investors’ behavior with the five stages of grief. He believes we are in the fourth stage of depression. Next, he believes acceptance will follow.
While [...]
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