fisticuffs wrote: The billions in lost tax revenue? Is that success?
Obviously, the tax revenue that GM workers and their suppliers(unless some of them got sweetheart deals, too) remit is welcome, but it should be noted that GM won't be paying tax on roughly their next $45 billion in profits, due to carry forward tax-loss provisions that are normally wiped out in bankruptcy proceedings.
I wouldn't have much of a problem if the bailout was referred to as a necessary evil, but calling it a great success is a little misleading, for reasons such as the above, not to mention the moral hazard it creates. Why would the government hesitate, even for a second, to bail GM out again, if it was considered such a great achievement?