Well, no, often bankruptcy means the business doesn't continue at all. The new owners get some old factories and equipment, along with lots of liabilities. Thousands lose their jobs and the tax revenue from the company disappears. That's what was likely to happen to GM. If a company is failing, it's failing, and bankruptcy doesn't necessarily save it.I would have preferred they allowed the standard bankruptcy route to have played out: the owners lose their equity, the creditors become the new owners. The business continues under new, and hopefully more competent, ownership. The bankruptcy system avoids the government doing special favors for "special" corporations.