The "rescue"/bailout of GM and Chrysler only DELAYED the bankruptcy filings of both. The subsequent government takeover and interference with the bankruptcy process screwed a bunch of teachers out of substantial portions of their retirement funds, and screwed a bunch of other investors (along with the taxpayers) out of funds, and ultimately left both of these companies probably in worse condition than they would have been had the bankruptcy reorganizations been allowed to naturally play out according to the rule of law.
“The “rescue”/bailout of GM and Chrysler only DELAYED the bankruptcy filings of both”
Unless something has been done about the union contracts that made GM and Chrysler unprofitable, he only postponed the inevitable. In reality, Obama just bailed out the group he is most loyal to, the unions, who caused the problem in the first place.