It's classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn't the u.s. housing market circa 2007. It's the U.S. auto industry circa 2017. A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they're bundled into securities for investors worldwide. Here is a direct video link.

Sound familiar?