Biggest Subprime Auto Lender Skipped Income Verification On 92% Of Auto Loans

We first introduced readers to the "New Century of auto finance" (aka "Santander Consumer USA") several years ago when we first took note of one of their aggressive auto ABS facilities which sported an average FICO of 595, LTV of 110%, APR of 16.2% and a term of 70 months...but don't worry too much because they verified income on at least 8% of the loans in that pool.

John Podesta Unloads On "Absolutely Crazy, Unfit" Trump

John Podesta, Hillary's former campaign manager and the target of one of the most devastating/embarrassing political email leaks of all time, sat down with Politico for a one-hour interview which served primarily to confirm that he's still a sore loser who has simply not come to terms with the fact that he backed a flawed candidate in 2016.

Manafort, Stone Give Russia Docs To Senate Intel Committee

While Michael Flynn may refusing to comply with the Senate Intel Committee's probe of Russian interference, two other former associates of Donald Trump complied on Monday afternoon, and according to NBC, Paul Manafort and Roger Stone have turned over documents to the Senate Intelligence Committee in its Russia investigation.

"Sell In May"... And Buy Bonds?

SocGen's cross-asset strategist Andrew Lapthrone has found a curious seasonally-driven pair trade which may be suitable for the next four months: sell stocks and buy bonds, as "June to September are among the weakest months for equities but the strongest for bonds."

Today's Stunted Oil Prices Could Cause Oil Price Shock In 2020

"What I don’t hear people asking is, ‘then what?’ Are the Saudis going to maintain these production cuts forever, or at some point do they have to start reversing that? I think in 2018 they will be reversing those production cuts..."

"They're Going To Get Rid Of Him One Way Or Another..."

"A sinister host of adversaries who ought to understand what is happening in this country, but don’t, or can’t, or won’t, are coming after him,... They have to. They must. And they will. And then what?"

Sinkhole Opens In Front Of Mar-a-Lago, Jokes Pour In

With Trump traveling half-way around the globe, on Monday an amusing "event of nature" took place at the president's favorite "ground zero", when a sinkhole opened up in front of Trump’s Mar-a-Lago resort.

BofA Finally Asks "Is The Tech Bubble Happening Again?"

"US growth stocks just surpassed 2000 “bubble” highs vs global value stocks; data on valuation, flows, and the relationship between equities and bond yields are all good clues that a speculative overshoot has begun; there are nascent signs we are in the very early stages of an overshoot."

Silver Surges As Shorts Hit 2-Year High

The so-called 'smart-money' has been piling into short silver positions in the last few weeks (creating the biggest hedge fund silver short in two years as of last week)... as silver rebounds from a record losing streak.

Watch Live: President Trump And Israeli PM Netanyahu Joint Press Conference

Having confirmed earlier in his press conference with Israeli President Rivlin that 1) he did not say the word 'Israel' to the Russians, and 2) Iran are the bad guys (confirming the narrative from the Saudis the day before), President Trump is due to join Israeli PM Benjamin Netantahu shortly for a joint press conference...

Trump Saves Obamacare Again... For Now

The Trump administration and the House have officially asked for another 90 days to work out a lawsuit over subsidies that help poorer people afford to use their Obamacare insurance plans, further delaying a long-running legal fight that’s already destabilizing the health law.

Meanwhile, In Baltimore...

Baltimore County law enforcement looks like a small private army that should be somewhere in the Middle East. Nevertheless, this is a first hand account of the militarism in US police forces...

Bitcoin Blasts Through $2200, Here's Why

Bitcoin is up almost 15% today, breaking through $2000, $2100, and now $2200. As we detail below, there are numerous drivers for this sudden surge in the virtual currency...