The question is always the same one - where does the money come from? The taxpayer borrows the money, pays interest on it (the National Debt) and then re-lends it on a gamble of repayment from a company(ies) in lousy financial shape and making more products than the market will absorb.

GM may have "donated" vehicles, but these were vehicles built-to-inventory and not-to-order. GM was able to write them off and take the tax break - something which did not recover the full cost of manufacture, but was better than nothing. GM did a lot of good in the past, and having that manufacturing capacity in the US is important for the national security as critical infrastructure.

So, we're back to the beginning. What will keep the manufacturing capacity, maintain GM (and the others) as viable and profitable companies, and keep the US Government out of the auto industry where the government knows nothing about running? Still sounds like Chapter 11 fits the bill.