Multiple reasons to link to this story.
1. “Likening it” to the mortgage crisis doesn’t feel right. The mortgage crisis has come about through multiple complex factors, one of which that doesn’t exist with the auto loan industry is the tulip mania aspect of it. People weren’t buying sweet rides with the idea they could flip those rides to someone else.
2. A handful of financial writers and analysts watching the mortgage crisis called this months and months ago. Just now some of the bigger papers are carrying the stories because now, you know, the story is LOCAL and people are losing their cars. It would have been nice to have a few more papers give folks some warning and ways to perhaps NOT lost their cars.
3. It’s funny to be back in Boston and read Boston.com again for news. I’ve always read their sports coverage of the Boston sports teams but have always found their news coverage lacking. Ten years later and the coverage is still fairly weak IMHO.