Monday, July 12, 2010

Business as Usual for Innocents at Main Street AutoMall

Thank goodness car dealers have been exempted from financial lending reform. These hard-working local businessman would be hurt by the restrictive provisions of the U.S. government's latest Wall Street-bashing legislative fusillade according to multi-zillionaire West Coast Mega-Dealer Ron Tonkin.

"This is a win for my children, and my children's children, who would be sentenced to lives as mere millionaires if my dealerships could no longer screw those least able to afford to be screwed with sucker loan terms," Tonkin didn't say.

The nation's automotive landscape may be changing, with electric cars, six-cylinder Corvettes, and Buicks that handle better than BMWs.

But at least we know now we have preserved a little of that old-time automotive Americana:

Balloon note loan structures and PayDay lending-level interest rates for those too uncreditworthy or too dumb to look elsewhere ... loan payment insurance premium schemes ... all of which will keep Ron Tonkin and his fellow hard-workin' local Main Street businessmen in Bentleys and Ferraris when they're slumming it on St. Barts all winter.

Fear not, Automotive Nation. Sometimes a cigar is just a cigar, and sometimes Change is just Chump Change.

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