Mary Kane Loses It: Blasts Media For “FAKE, Irresponsible” Auto Coverage, Delivers Magnum Opus

Dear mainstream financial media: are you trying to make Citi’s Mary Kane lose her fucking mind? Because that’s what it seems like.

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Look! A Scary Auto Loans Chart.

Those who frequent these pages are well-versed in the ongoing auto ABS debate. See the thing is, a whole lot of people are interested in shorting subprime auto paper. With the possible exception of CMBX 6, auto ABS is at the top of the list when it comes to “the next ‘Big Short’ candidates.” One…

There’s Trouble In Used Car Land

As regular readers are no doubt aware, we’ve been pretty keen on documenting the bubble that is subprime auto loans. In “As Subprime Auto Bubble Bursts, Lenders Use GPS To Hunt Deadbeat Borrowers,” we drew your attention to “DriveTime” and “Credit Acceptance,” highlighting the rather unnerving fact that both companies “have been using technology like ignition…

Chart Check: Subprime Auto Delinquencies Near Crisis Levels

Over the past several weeks, I’ve documented what looks to be the beginning of the end for the subprime auto bubble. For the most comprehensive treatment, I suggest you have a look at “As Subprime Auto Bubble Bursts, Lenders Use GPS To Hunt Deadbeat Borrowers.” The short version is that there are a whole host…