Suzi,
Actually, Obama IS pushing GM to consider bankruptcy.
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/01/AR2009040103718.html
Obama wants GM to split in two (so he can presumably control the half that still has any potential).
Oh, I was thinking that That One and the Unions didn’t want bankruptcy, because that would trigger the need to renegotiate the Union contract, and presumably threaten their gravy train.