Sees a Cloud of Locusts on the Horizon...
Feb. 5th, 2008 06:46 pmRemember me saying that the predatory lenders who fomented the mortage crisis have moved on? Well, it appears they are also hitting student loans. One of the biggest flight schools in America just filed for bankruptcy liquidation because (at least in part) their students were being shut out of tuition credit.
Any industry that depends on credit to keep themself going is likely to be hit hard in the coming months. The rot is much deeper and in more places than people realize.
Any industry that depends on credit to keep themself going is likely to be hit hard in the coming months. The rot is much deeper and in more places than people realize.