blkfish92 said:
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The GM bailout worked because GM unlike most of everywhere else was that there problems weren't systematic. By the time they asked for the bailout money they already handled their systematic problems and just needed some "holdover" money.
I suggest reading
http://www.gladwell.com/2010/2010_11_01_a_overdrive.html
or the Short version
What Wagoner meant in his testimony before the Senate, in other words, was something like this: "At G.M., we are finally producing world-class cars. We have brought our costs, quality, and productivity into line with those of our competitors. We have finally disposed of the crippling burden of our legacy retiree costs. We have expanded into the world's fastest-growing markets more effectively than any other company in the United States. But the effort required to bring about that transformation has left our balance sheet thin—and, at the very moment that we need a couple of years of normal economic activity to refill our coffers, auto sales have fallen off a cliff. Do you mind giving us a hand until things get back to normal?"