In the case of GM it is not clear what is the real objective; is it to save something vital that will be GM? Or, is the point to save the privates? The point is not to save the excecutives, certainly not to save the shareholders, but is the real objective to save the privates who work there, the rank and file, the UAW members, the largely democrat work force?
Yes, save those privates.
So the GM case drags on. And there will be malcontents, there will be survivors and there will be net job losses. Still some jobs will be saved. Time will tell how well the various government backstops will keep buyer willingness aloft. But it will help to stave off even more job losses in the Big Three and among their suppliers.
It will help.