Subprime Auto Lenders Disabling Cars for Delinquent Accounts
On September 25th, Dealbook detailed how lenders of sub-prime auto loans are installing disabling devices which allow them to make a car undrivable with the click of a computer mouse in the event a borrower falls behind in payment. The devices have been installed in about two million vehicles so far. Kill Switch.
On September 21st, The New York Post reported on the battle royale brewing between whistleblower Haim Bodek, formerly affiliated with two large Wall Street financial institutions, and the New York Stock Exchange. Bodek contends that NYSE reforms disadvantage the regular investors because they would enable well- connected firms to undercut ordinary investors by using lightning-fast stock-price feeds. Bodek.