The jury is still out on how much the loss or profit (however unlikely) will be on the GM bailout because the government does still own GM stock, though not nearly as much as when the bankruptcy happened.

Can you quote me something where the President said GM *didn't* go into bankruptcy - because what they went through sure seemed like it to me. The difference being a reorganization versus a liquidation (there were no banks willing to loan GM the money to go through a reorg).