From the NYT:
By NICK BUNKLEY
DETROIT — General Motors said Thursday that it had agreed to buy a financing company, AmeriCredit, for $3.5 billion so it can lease more vehicles and increase sales to consumers with lower credit ratings. ...
Jesse Toprak, the vice president of industry trends and insights at TrueCar.com, which tracks vehicle pricing, said G.M.’s sales could jump as much as 20 percent if it aggressively courts subprime buyers.
G.M. will use money from its cash reserves, which stand at more than $30 billion as a result of the aid it received from the federal government before and during last year’s bankruptcy.
“We’re in the fortunate position that we have a very strong balance sheet,” G.M.’s chief financial officer, Christopher P. Liddell, said. “That gives us the flexibility to do acquisitions like this.” ...
Currently, subprime customers account for 4 percent of G.M. sales, in line with the industry average, but about 40 percent of the population has a subprime rating, Mr. Liddell said. ...
Mr. Berce said most of AmeriCredit’s 800,000 customers had credit ratings of 500 to 650. A rating below 640, on a scale that ranges from 300 to 850, is generally considered subprime.
From Wikipedia: "GM is now temporarily majority owned by the United States Treasury ..."
Basically, nobody in D.C. has any strategy how to help the bottom 40% of the country earn more money, since the obvious steps, such as immigration restriction and protectionism, are unthinkable in Washington. So, the Bush-Obama strategy has been to help the bottom 40 percent (i.e., 125 million people) borrow more money so that they can buy more shiny, spinning objects.