I’m surprised that there isn’t more leasing chatter because there seems to be a growing awareness of how most leasing companies make their money. The member who correctly analyzed Marlin’s profits was right on the mark. Not many leasing companies are public entities but when they are one can glean a lot of info from their 10Q’s and 10K’s.
The leasing industry vigorously defends evergreen to its detriment. Whenever a state bill is introduced to restrict or outlaw evergreens they send someone from DC to the state to try to knock it out and they are very successful.
If evergreen were to be declared illegal in all or even most states, rate factors (but not overall yields) would go up and they’d have to dream up new unethical revenue sources. I don’t see a widespread prohibition of evergreens happening any time soon but we are pleased to see that the general public is better educated than in years past.