True. The US government spent 51 billion dollars so the new GM could continue to operate without disruption and continue to pay employees and retirees and took

True. The US government spent 51 billion dollars so the new GM could continue to operate without disruption and continue to pay employees and retirees and took a 61% stake that they eventually sold for 39 billion. So the government lost 12 billion plus the time value of money. The retirees were lucky that the Democrats were in charge. While a republican may have also provided a bail out, they may have forced a true chapter 11 where the retirees’ pensions are reduced to the federal minimum. The new GM would have emerged without the pension liability.