Good article. But this article doesn't even speak to the fact that the Govt. is mandating that the UAW, (unsecured creditors), get preferential treatment over bondholders, (secured creditors), in a clear and blatent case of political payback; thus allowing the UAW to have a greater share in ownership of the "New GM" than the people that are at the front of the financial line.

It's as if your home has been foreclosed on and the 2nd mortgage holder gets first priority and the majority of what money can be recovered while the primary mortgage holder is thrown under the bus. It's an unconstitunal move on the Govts. part and it ignored and negates contractual law. It's a straight up socialistic power grab move nationalizing car companies. And what's even worse, it's based on politics, (illegaly positioning the UAW to have a larger ownership share than they should have a right to at the expense of the bondholders who should legally be first in line), as much as it is for supposedely saving jobs.

And to finish it all off, can you say Amtrak? Look at the govts. efforts and history in supposedely "temporarily" propping it up until it can stand up on its own financial feet. It's been "temporarily" propping it up for decades. Does anyone honestly see that situation changing in the foreseeable future? What about all our tax dollars going down the tubes there. Does anyone think we'll ever get that money back; with interest no less?

Some of the banks will pay the TARPs money back, with interest, because they are in a position to do so. Some of the banks were forced to take TARPs money even when they didn't want or need it. These banks are in a position to pay the government off, (and get them out of their business as soon as possible in the process). Other banks aren't. It is literally not possible for GM or Chrysler to pay back the loan money, much less with interest. GM will be lucky to survive the next 5 years.

- 67GTO