What Pravda says, anyhow:
Officials envisioned TALF supporting tens of billions of dollars a month in new lending, saying it could eventually total $1 trillion. But in March, when it was launched, it backed only $4.7 billion in auto loans and credit cards. For April, it logged only $1.7 billion.
Sources involved in the program said private investors have been reluctant to work with the government, which they view as an unreliable business partner. Separately, the brokerage houses that are crucial intermediaries are being exceptionally cautious in the contracts they draw up with participants in the program, in part out of wariness that any mistakes could draw the ire of Congress or the media.
Is there no gratitude?!?!?!
"Our" government throws the banksters trillions of dollars, doesn't even ask where it went, and there's no visible result (except, of course, the banksters claiming they're profitable again).
Come on. Letting banksters loot with impunity is the very definition of being "a reliable business partner." What's wrong with these people?
Please, can we just turn the banks into regulated public utilities, and handle credit that way? That would cover houses, student loans, cars -- what more do we really need?