Carvana Is Doing the Same Thing That Caused 2008 - I Checked
Almost every major automaker on Earth just had its worst year at the same time. $68 billion written off, profits down 59%. And underneath it, car loans are getting bundled into bonds the same way mortgages were before 2008. I checked whether that comparison actually holds up. Sources: EY, LendingTree/Experian, New York Fed, S&P Global Ratings
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The Carvana Situation Gets Worse...
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