Poor credit? It's still no problem for some lenders.

The financial crisis was supposed to ring the death knell for companies that make loans to people who have had problems with debt. But a year and a half later, so-called subprime lending is alive and well. What's more, fears that increased regulation following the credit crisis would dramatically curtail the profits of these lenders is receding. A deal struck in the Senate would reportedly dramatically weaken a proposal meant to crack down on so-called payday lenders and other specialty finance firms that cater to people with lower credit scores. (See "Is There Too Much Worry About the Debt?")

Though there are soft spots in the subprime market, overall, business is good. The percentage of auto loans going to people with poor credit, for example, has been increasing. And while a number of banks have stopped offering credit cards to the debt-challenged, there are still companies handing out subprime plastic. First Premier Bank, for one, just tweaked the fees on its credit cards aimed at individuals with low credit scores to comply with recent legislation, and its business proceeds apace.

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This is bad news.. as what happened in 2008-09 will happen again - they have a real taste of the bailout now.  Who cares about the risk if they can reach into the taxpayers' pockets every now and then when the risk gets heavy!