White House press secretary, Dana Perino, on the ‘lend for America’ plan:
"Taxpayers will make billions when this plan succeeds. It's a 'win-win can't fail' situation. The more money banks lend the more money banks will make. It never fails. And the beauty of the plan is taxpayers benefit. If it looks like the plan is not working it's only because the banks are not lending enough."
Thurgy: Banks will lend to those who they deem credit-worthy. Duh. Example:
From Bloomberg:
GMAC's Lending Limits May Add to GM's U.S. Sales Woes GMAC said yesterday it's granting financing only to buyers with scores of at least 700, who represent about 58 percent of U.S. consumers.
