It seems pretty clear that mortgages and derivative instruments built on top of them are what really did them in, just like so many other banks. That said, AFA

It seems pretty clear that mortgages and derivative instruments built on top of them are what really did them in, just like so many other banks. That said, AFAICT the lending models for cars were no more sophisticated than those for houses. Lots of concern over individual borrower risks, but not much at all for an economic downturn that would sour many many loans at once and depress the value of the collateral at the worst possible time.