From Here
"Volkswagen could face trouble funding leasing deals on new car as the European Central Bank (ECB) threatens to refuse to buy the loans that finance sales of its cars. The ECB declined to comment on claims it has put a temporary ban on buying VW's asset-backed securities debt backed by car loans"
So VW is packaging up car loans for purchase by the ECB? WTF? IMHO this is outrageous. The European Central Bank is getting involved in a commercial transaction, effectively printing money to buy loan books from VW. That's like the Bank of England directly financing Jaguar, say.
Or am I missing something?
