Tricolor Runs Out of Gas

Tremors have rippled through the $25 trillion US credit market. We had an exposure to Tricolor. I'm obviously not happy about it.This story is about the sudden, unexpected, spectacular collapse of a subprime auto lender backed by some of the largest banks on Wall Street. Tricolor’s collapse in the subprime auto lending space could be the tip of the iceberg. A used auto dealer and lender named Tricolor suddenly filed for bankruptcy in September after alleged fraud was flagged in their books.You’re looking at ...