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The Masters of the Universe — those energetic guys and gals who brought the world’s economies gasping to their knees six years ago — are at it again. Having successfully avoided punishment (for the most part) and staved off any meaningful interference by regulators, they have gone back to their favorite modus operandi: predatory subprime lending to finance big-ticket purchases followed by bundling and securitization of the shaky loans. Not houses, this time. Cars. Continue reading