GM-AmeriCredit Deal

General Motors have complained for months that they are losing business, because many customers can not qualify (Poor Credit) to get loans.  GM's solution was to purchase the "subprime lender, AmeriCredit," for $3.5 billion of your money (GM is 61% owned by the American taxpayer.) to boost sales by making loans to buyers that it currently had to turn away.  (Buyers with shaky FICO scores of 300 to 600–are what AmeriCredit specializes in.) Isn't this what got us into the financial fiasco in the first place?  That is, providing loans for the purchase of cars and homes to individuals that really do not have the financial wherewithal to pay those loans back.  But then again, it's a typical government solution to simply throw more taxpayers money at a problem with the hope that such profligacy will fix the problem.