In this episode of the Consumer Credit Matters podcast, host William Black and guest Rod Dubitsky (aka The People's Economist) discuss the recent Chapter 7 bankruptcy filing of Tricolor, a subprime auto lender. They explore the unique business model of Tricolor, the implications of fraud allegations, and the role of securitization and warehouse lending in the company's downfall. The conversation also touches on the broader implications for the subprime auto lending market and the economic pressures facing borrowers.Chapters00:00 Introduction to TriColor's Collapse09:28 Straight to Chapter 7 Bankruptcy12:24 Tricolor's Business Model18:15 The Role of Securitization31:40 The ABS ratings44:29 Economic Headwinds or Immigration Policy?57:22 The Role of the Backup Servicer01:03:08 Social Bonds and ESG Considerations01:08:08 Idiosyncratic vs. Systemic

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