And I hope they are paying their fair share of that in taxes.

Its all president Obama's fault
He has made the country a laughing stock of the world (not)!...

“What is happening in this space today reminds me of what happened in mortgage-backed securities in the run-up to the crisis,” U.S. Comptroller of the Currency Thomas Curry warned in October about the auto loan bubble.

And his warning is now becoming reality.

Subprime auto loans aren’t big enough to take down our megabanks, the way subprime mortgages had done. But they’re big enough to take down specialized auto lenders and cause a lot of tears among investors that bought the highly rated structured securities backed by subprime and deep-subprime auto loans that are now defaulting at a rate last seen during the days of the Financial Crisis.

And they’re big enough to knock the auto industry, one of the few booming sectors in the otherwise lackadaisical economy, off its record perch. An auto-loan implosion would start at subprime and work its way up, just like mortgages had done.

The business of “repackaging” these loans, including subprime and deep-subprime loans, into asset backed securities has also been booming. These ABS are structured with different tranches, so that the highest tranches – the last ones to absorb any losses – can be stamped with high credit ratings and offloaded to bond mutual funds designed for retail investors.

http://wolfstreet.com/2016/02/23/subprime-auto-loan-asset-backed-securities-come-home-to-roost-in-your-bond-fund/

"The Fix is In" A process (for example, a court case) has been rigged behind the scenes and its outcome will not reflect true justice.

This is not a Joke, the big boys and Washington are intertwined greed investing in "the Fix" Theft with Zero Accountability after $Billions Disappear into Fat Cats Pockets.

Not earth-friendly. Not good.

I envision a lot of those employees getting large bonuses going out and buying some big ticket item. That's what happened during the last boom times. The local news would interview people after they got their checks and ask them what they were going to do with them which was usually followed by "I'm going to buy two ATV's for up North" or "We're buying a boat" or We're going to Hawaii for two weeks". Very few probably saved it for the next bust.

I was in that situation. I was one who saved it for retirement. Silly me.

When the bust happened (and boy, did it happen good during those marvelous Bush years) you could drive down any suburban neighborhood and see a skidoo out on the lawn or a boat or a motor home or any number of things with for sale signs on them.

Now I see many new SUV's and large trucks in parking lots around town and I ask myself, don't these people ever learn? There will be another downturn. There always is.

Ah, well. Short-sighted Americans.

Maybe I'm the stupid one

Important full disclosure: I own shares of Ford and Alcoa, so I do have a dog in this fight. Nothing I say here, however, is going to affect the share price in any manner. That said....

Sometimes people buy pickup trucks not because they're showing off, but because they need a pickup truck. The F-150 and its GM and Fiat-Chrysler (FCA) equivalents are widely used by businesses and people to haul things for which there is no alternative.

50 bags of mulch?* My Gary Fisher bicycle is basically a grocery-getter, but it would not be a good choice to carry a load like that.

Two dirt bikes? What else are you going to put them in?

Towing a horse trailer? That's what people use them for.

Pickup trucks sell well because they fill a need.

Also, the F-150 lost over 700 pounds when it went to an aluminum body. Alcoa made sure to show it off in the 2015 annual report. That weight loss translates into greater fuel efficiency. Though GM and FCA warned about the risks of not being surrounded by steel, the F-150 still scored highest in the most recent crashworthiness test.

Transit vans: again, these are used by businesses because they fill a need. Is there a passenger-hauling version? If so, then it gets used as an airport shuttle too.

They sell, because they're what people want to buy.

* Weight of mulch per bag varies, as does the truck's payload.

So it doesn't seem so costly to buy and operate a F-series overcompensation machine.