Some GM/Obama possibilities:
Obama knows that more bailouts are unpopular. However, this move will give Obama an opening to try again. GM will soon receive billions more “loans” (you know - with that money that doesn’t really exist — unless you count your grandchildren’s future earnings). The government will next attempt to force GM to give up manufacturing trucks and SUVs and become more like Toyota - except for that union thing. The unions will stay, and the unions will make zero concessions. viola - GM will be profitable again! weee. Problem is, it won’t. All of this will take too long, the money wont last because GM’s legacy costs are just too high, and, like a fat lady screaming for more donuts, the UAW is still there. We will be back to GM needing to go through a real bankruptcy.
GM is not too big to fail, but the government just won’t let go. Because as Mark Stein says…
-or- complete government take over, and everything is perfect. sweep sweep sweep. -or- /////Acorn will have another bus tour showcasing fat union bosses at the local bowling alley.