[PBzeer]

Well, there goes PB's contract law. When a company fails, the law of the jungle or whatever the bankruptcy court says...is what goes. Honestly, anyone who invested in GM is either stupid or clueless.

That IS the law. In bankruptcy proceedings, secured creditors (those who accepted less return for the security of primacy to assets) have first call. That's the whole point behind secured vs unsecured creditors. GM is a private business, not a social agency.

While TARP was certainly signed by Bush, it had Obama's whole hearted support, as did the bailouts of GM and Chrysler, actions taken in concert with Obama (all matters of public record should you choose to research it rather than spout knee jerk anti-Bush rhetoric).

Your blithe dismissal of Bush policies fails to take into account that to a large extent, all Obama has done is EXPAND them, not change them. Again, a matter of public record. For while the rhetoric has changed, little of a substanstive nature has. The only real change has been the increase to the size and scope of government intervention.