Well, GM held quite a few jobs (and industries) hostage. They had little IP worth buying, as they were already re-badging Australian and European cars. The late

Well, GM held quite a few jobs (and industries) hostage. They had little IP worth buying, as they were already re-badging Australian and European cars. The latest Saturn's were Opel's. Pontiac's were Holden's. Down economy made it seem like no one would ever buy a truck again and Toyota had already proven their trucks were as good or better. If GM wasn't bailed out, they would have failed HARD. Like, plant closes, which means in that town restaurants close, doctors offices close, tax revenue drops so public sector jobs suffer, suppliers no longer have someone to supply, so they cut back. There would have been a massive ripple effect in an already awful time. Don't forget about the rampant middle class foreclosures, middle class homelessness, college savings lost, etc. 2008-2010 was really bad. Also, it was a loan that GM was able to repay and gov't made money on the deal on top of continued income tax payments from all the people who remained employed and off unemployment.