Rover's fantasy land... Reckless Lending Skyrockets To Subprime Borrowers
Today’s festivities span well beyond the 1999 Internet startup theme. Those who missed their invite to the NASDAQ bubble and the real estate flipping bash will be happy to learn that subprime lending is back to its profligate peaks. In fact, loans to consumers with low credit scores have reached the highest level since the start of the financial crisis. In fact, almost four out of every 10 loans for autos, credit cards, and personal borrowings in the U.S. went to subprime customers during the first 11 months of 2014. That amounted to more than 50 million consumer loans and credit cards totaling more than $189 billion, the highest levels since 2007.