while it seems that way initially the reality is more complex. waves of repossession means waves of employees who cant get to work anymore. repossessions arrive on your credit history as a major blemish, meaning you cant get credit for a new car. your credit card interest goes up as a result, unemployment ticks steadily up as well until the market reacts parasitically, and eventually the car you picked up for loan balance cant go for even a fraction of that because of the surprise 1.6 trillion dollar recession you triggered.

its more palatable to subsidize these dicey loans (as we did in 2008) then come to jesus with the grim reality of following the letter of the lender instead of the spirit of the loan.