[Scarebird]

Originally Posted by zephyrracer

Diego point is and the reality is they accepted the money, they could have and should have filed bankruptcy and reorganized that would have been legal and proper way for a kick start, in case you didn't know there are many different kinds of bankruptcy, one to liquidate one to reorganize and continue, the bond holders by law, by law were first in line for money...

You seem to miss the fact this is GM, not Jenny's House of Parakeets and nobody could have handled the bankruptcy other than the US govt. Both Honda and Toyota lobbied strongly for the support as their supply chains would have suffered immense damage here. The needs of the shareholders were weighed against those of the rest of the country and the decision was made.