What is the USA trying to accomplish with GM?

GM has revealed it's super strategy to make itself turn around:

Borrow a LOT of money... lower production.... sack all it's workers.

Tadaa.

Negotiations to lower it's non-production related costs? (bondholders, UAW, Executive salaries, DELPHI...) ... not needed!

... I thought the whole point of the USA bailing out the autos was to save jobs?

Turns out that the USA would probably have saved more jobs if they had just let GM go into receivership, or even better, just NATIONALISED GM, by making a mandatory public offering for it's outstanding shares. Would have only cost it 2-3 billion, as I said before.

... What nonsense about "no one will buy a car from a company about to go bankrupt"?

GM is now persona-non-grata for the nonsense it is performing now.

This whole bailout issue and Rick Wagoner's dishonesty (his claim of a turn-around, his prior claims to only need 15billion turning into 30billion), the claims that bailing out GM would save a million jobs, then turning around and firing 47,000 workers...

WTF???

You think that anyone will want to buy your stupid General Motors cars now??? Your entire brand name is POISON!!! .... Seriously, at this point, far far better just to declare bankruptcy, and repackage the cars under a new brand name... like... errr.... ok, I will admit that I fail at coming up with creative/ popular names... the only thing going on through my mind is Marshal Motors or Corporal Cars. ... sigh.

Look, the amount going into the mortage bailout is 80 billion.

You think that stopping GM from going bankrupt is 40% as important as stopping the rash of home foreclosures?

GM needs 2 billion a month just to stop itself going bankrupt!

OK... 2.6 billion in April, actually. (2billion Febuary)

...

The entire business is doomed and flawed. If Obama and his team do not realise this, they are just being obstinate/stubborn.