The point you overlook, M E M, is that the bailout was completely unnecessary, and could have been done better as a private bankruptcy negotiation.
That could have resulted in a more pragmatic restructuring, and would have been more fair to the investors and stockholders of GM.

As opposed to what happened, that fleeced taxpayers, still lost 25% of GM workers' jobs, but protected and benefitted Obama and the Democrats, and the union leadership that supports the Democrats.