Talk about a subtle way for the Obama administration to continue redistributing US tax dollars. First, illegally kick out GM's shareholders with tax payer dollars. Then, give GM a bad loan. Finally, use those investment dollars to help out your foreign arm which has been uncompetitive for several years.
Maybe I'm just being a conspiracy theorist. But, US tax payers are really getting hurt in the way the Feds are giving out our money. We are making very risky "investments" on money that isn't ours (see China!), but we are on the hook for it. Further, the gov't shouldn't be making ANY choices in deciding which businesses get loans! That is what PRIVATE investment is for. They have the power and the will to make good monetary decisions. The US gov't has proven time and time again that it is perfectly willing to throw good money after bad.