While it is standard for bankruptcy to eliminate a company/individual's liabilites (except for student loans!) incurred prior to proceedings, it is not standard for said company/individual to receieve an enormous bailout and re-finance at the expense of the public.

I like how the representative of the article acts like the "old GM" are completely different people, from a different planet, when in fact the people who were proponents of the bailout invoked tradition and "remember the old days...." and "american ingenuity" and "we're GM, do it for our babies!"


http://www.reuters.com/article/2011/...77I0Z820110819