One reason you don't want government bailouts

Because the government allows itself to do things a company would not normally ever be allowed to do. Like just forget about polluted properties it use to own and was required to clean up. GM has had it's environmental responsibilities on more than 100 properties annulled. The cost and responsibility for the clean up is not now with the federal government but with the state and local governments. This is not because of a choice by the state and local governments but because the federal government said "It ain't GM and it ain't us.". Nice deal eh?

And the really sad part is, the money for the clean up was there. The cost of the clean up's was estimated at 530 million and GM had 1,200 million in cash left. This money will now be swallowed up in administrative fees, lawyer fees, and other out standing liability claims.

The local governments are not to happy about this, and want the federal government to fund the clean up of the sites since they purchased GM and in any normal system this purchase would include assuming all the liabilities of the company. My guess is that since the federal government is both the metaphorical defendant and the judge in situation, they will rule for themselves and not take on this liability. They may try and dodge some of the bad press and fund some environmental studies which will be allowed to present their recommendations and then politely be ignored.

I found the article on Slashdot.