Car sales are down for a couple of reasons one of which is they've actually been putting better paint jobs on them (so good I have two cars that are 12 years old out front and they look brand new). 10 year warranties are "real". The other big reason has to do with credit ~ the federal reserve raised the discount rate repeatedly in 2006 and 2007 with the consequence that as variable interest rate mortgages began coming due at a new rate, borrowers found the "jumps" insurmountable so they defaulted and homes were foreclosed. At the same time illegal aliens were swamping the construction market and builders just couldn't help themselves and dipped deep into the well of corruption and built a vast surplus of cheap houses.
Notice, I'm blaming illegal alien below market wages, the federal reserve bank system, and finally, Barnie Frank!
I think you'll find him on the side of NINJA Loans and Illegal Alien labor.
I think if we can get Barnie dragged into court and punished appropriately, the credit markets will improve simply by their managers becoming more prudent given the example of what happens to Barnie. Bonus systems must, of course, be balanced with Penalties!
Also, Bernie will probably die before he goes to jail...there is talk that he will make restitution of the original amount of the investment-no interest and may actually walk away or get a slap on the wrist. I have a friend- her brother made a loan to his Mother who was having financial difficulties...he did 13 months in the federal pen. It seems we have a different kind of justice for the Bernies, the Thanes and alla the rest of these creeps.