Not per Wikipedia[1]:"Through the Troubled Asset Relief Program the US Treasury invested a total $51 billion into the GM bankruptcy. Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally)."
Because a business cycle contraction occurred? If GM had been allowed to fail, other companies would have filled the gap in the market, and new businesses would have emerged, most likely generating even greater tax revenue over time. While there may have been some short-term thumb twiddling, the market would have eventually created new jobs elsewhere, jobs that would have been even more productive. There's a great opportunity cost to "saving" millions of unproductive jobs.
Not true at all; both the bondholders, who under the law were supposed to be senior, got screwed over, and certain non-union salaried employee pensions, were severely cut out of pension money by the PBGC.
1. https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reor...