The equipment is leveraged. Bank of Montréal bought one of the big three US lenders operating in this market five years ago, so they’ve already hit one of their biggest commercial banks below the water line by driving their borrowers into loan default. They are holding very expensive trucks that the lenders have liens against. The lenders are going to repo them. If the gov’t fights them on that, they’ll bleed out storage and legal fees until they get a chance to sell the trucks in a market already artificially flooded with repo’d equipment. Then they can pay off the loans. If they assume title to the trucks, they could assume responsibility for the balances owed. The lenders who are stuck doing this with repos are currently losing $20,000 to $125,000 per repo’d unit.
Maybe this mayor has magic powers. Or maybe he’s an ignorant, childish putz.
Actually, he’s gay.