Comments on: Credit Cards (and Boat Repossessions) Signal Continuing Consumer Stress http://www.nakedcapitalism.com/2008/05/credit-card-signal-continuing-consumer.html Mon, 23 Nov 2009 03:10:07 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: russell1200 http://www.nakedcapitalism.com/2008/05/credit-card-signal-continuing-consumer.html#comment-8291 russell1200 Tue, 20 May 2008 16:32:00 +0000 http://www.nakedcapitalism.com/2008/05/credit-cards-and-boat-repossessions-signal-continuing-consumer-stress/#comment-8291 http://woodrow.mpls.frb.fed.us/<br/>pubs/region/95-09/reg959b.cfm<br/><br/>I broke up the URL to make it fit on the smaller size responses.<br/><br/>Securitization of boat loans has been going for some time. They are no less secure then credit card loans. http://woodrow.mpls.frb.fed.us/
pubs/region/95-09/reg959b.cfm

I broke up the URL to make it fit on the smaller size responses.

Securitization of boat loans has been going for some time. They are no less secure then credit card loans.

]]> By: Ginger Yellow http://www.nakedcapitalism.com/2008/05/credit-card-signal-continuing-consumer.html#comment-8289 Ginger Yellow Tue, 20 May 2008 15:34:00 +0000 http://www.nakedcapitalism.com/2008/05/credit-cards-and-boat-repossessions-signal-continuing-consumer-stress/#comment-8289 I've never come across a boat loan securitisation before. Shipping loans, yes, but that's not the same thing. Maybe they have them in the US, but certainly not in Europe. I’ve never come across a boat loan securitisation before. Shipping loans, yes, but that’s not the same thing. Maybe they have them in the US, but certainly not in Europe.

]]> By: "Cassandra" http://www.nakedcapitalism.com/2008/05/credit-card-signal-continuing-consumer.html#comment-8284 "Cassandra" Tue, 20 May 2008 11:49:00 +0000 http://www.nakedcapitalism.com/2008/05/credit-cards-and-boat-repossessions-signal-continuing-consumer-stress/#comment-8284 <i>What sort of idiot gives a non-amortising loan on a massively depreciating asset like a boat?</i><br/><br/>probably someone who is NOT lending his own money and NOT likely to keep the loan, but on-sell it for securisation with some other "asset-backed" consumer rubbish. The more interesting question is who is the ultimate buyer? Again, probably NOT someone investing his own money. Agent-principal conflicts are fascinating, no? What sort of idiot gives a non-amortising loan on a massively depreciating asset like a boat?

probably someone who is NOT lending his own money and NOT likely to keep the loan, but on-sell it for securisation with some other “asset-backed” consumer rubbish. The more interesting question is who is the ultimate buyer? Again, probably NOT someone investing his own money. Agent-principal conflicts are fascinating, no?

]]> By: Ginger Yellow http://www.nakedcapitalism.com/2008/05/credit-card-signal-continuing-consumer.html#comment-8278 Ginger Yellow Tue, 20 May 2008 09:11:00 +0000 http://www.nakedcapitalism.com/2008/05/credit-cards-and-boat-repossessions-signal-continuing-consumer-stress/#comment-8278 Jaysus. What sort of idiot gives a non-amortising loan on a massively depreciating asset like a boat? Jaysus. What sort of idiot gives a non-amortising loan on a massively depreciating asset like a boat?

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