Bill                                  Bolton                             Governor        
Car Loans

Stop the Car Loans Deception [05/27]

Needed: When buying a car, a third party loan company cannot provide more of a loan than what the wholesale, off-the-lot, one-year-after value for what the car would sell.  However, the seller can provide a second, nontransferable loan to the buyer.  This makes the seller have a vested interest in the loan instead of passing the vested interest off to the courts and government. [05/27]

Furthermore, this car loan issue was and is a prelude to our housing
desaster where a banker can transfer the loan some other company allowing the banker to not to be concerned with the person that received the loan but let the courts and government worry about any problems.  In other words as Bill says: "If you don't clean crime at the bottom level it works its way up.".   [05/30]