But dude....two things you seem to not understand. One is that you are a closet socialist apparently.
First, it is not proper for the government to save these companies from their own failures.
Second, it was obvious to anyone paying any attention the GM bail out was really a bail out of the unions - while the tax payer and the lenders got screwed.
One thing I DO understand is when a theoretician has to misidentify critical factors in any equation, it's because correct identification will not yield the answer he wants.
As for your two points...
On the first, I agree with you on the theoretical level. However, two points are relevant here. First, Trump's priority was to keep these companies domestic. Second, when the regulatory environment imposed by government is relevant to a company's ability to compete in a global market, I have no problem with said government reliving some of those regulatory burdens.
That it took the form of a bailout merely indicates the government's attempt to provide aid while maintaining the status quo.
As to your second points, hindsight does not invalidate the raison d'etre for the original proposition.