Yesterday, Ally Financial warned that profits would underperform expectations. Now, they dd not say that profits would fall or that they were taking credit writedowns. Neverthless, the warning is an important marker and should be of grave concern. Here’s why....Credit Writedowns
You should be concerned about falling car prices and Ally’s profit warningEdward Harrison
Why should we be concerned that government privileged usury eventually proves to be unprofitable? That even that subtle crime eventually does not pay?
ReplyDeleteYes, we should be concerned for the victims and that means debt relief ala a "A Modern Jubilee" per Steve Keen or similar and the removal of explicit and implicit privileges for depository/lending institutions.