How is the Credit Crunch affecting auto dealers in the U.S.?
The stupid situation many many people have put us in (not just “Wall Street Bankers”, but the the idiot on my street that bought a house he couldn’t afford, the mortgage broker who found him a “nothing down” mortgage, the mortgage company who designed such a stupid plan, the re-bundlers of those mortgages that sold them, the people and institutions who bought them, the auditors and bond raters who rated them “fine”, and every government and regulatory entity and person who watched the whole thing go nuclear….) is now showing up on Main Street…where people want to buy cars.
Read a good article about that…
http://money.cnn.com/2008/09/30/autos/car_dealer_pain/index.htm?postversion=2008100112
