[addicted]

TARP was primarily about the banks, but the money authorized was expanded to cover automakers as well. The government made a profit on it overall, and both the bank and auto parts were profitable.

The problem with TARP was the government should have got a lot more equity in return for what it provided (for example, Goldman Sachs and Warren Buffett also invested, and got better terms, but the government's impact was even greater, and should have gotten as good terms, if not even better ones than Buffett and Goldman).

[carlivar]

GM bondholders, many of them retirees, were also screwed. The govt overrode traditional bondholder priority in restructuring, in favor of the union. This was wrong.