The time-honored, tested and true method is to let failing business models fail.
And who would you rather have because who ever you pull out of your head probably wouldn’t do it anyways.
Whoever has the wherewithal to buy the assets at liquidation is, by definition, going to be better qualified than any other choice. And if there's no takers, there's a reason for that too.
I am not arguing that they shouldn’t let GM or any other business fail. I never stated, hinted, proffered or suggested the US government should bail anyone out. Like many before you, you fail to understand my point.