GM out of Bankruptcy

Whatever you want to say about GM’s bankruptcy proceedings, one thing you can say for certain is that I was quick. It only took a few months for GM to drag it's overly large corporate structure out of bankruptcy and what do we have left? A company privately controlled but 60.8% owned by the American government (i.e. American taxpayers) and Fritz Henderson, GM’s supposed CEO, telling us that "business as usual is over". What this means is anyone's guess, but based on what is left of the GM that most of us grew up with and have grown to know, “GM” essentially no longer exists.
The changes to GM are vast: They only have 4 makes now instead of 8, they have cut thousands of blue and white collar jobs along with restructuring their union contracts, and have slashed nearly 2000 under performing dealerships nationwide. Even with all of these changes and cuts our Federal Government still had to spend nearly $50 billion on GM to help save the company. That’s right, we, the American tax payers essentially donated $50 billion to a lost cause.
I call it a lost cause because the GM that was once there is no longer, in fact, you can’t even say that it is a “shadow” of it’s former self. What is left is little more than a shell and it leads me to having many questions about the situation, as well as similar ones concerning Chrysler which hasn’t come out of bankruptcy yet.
However, I will restrain myself to only 2 of them.
Firstly, I would like to know why, if it was going to take such massive measures to bring GM back to being a productive company, the Federal Government didn’t let GM die and allow Capitalism to pick up the pieces naturally? In other words why did we the tax payers have to spend so much money on “helping” GM get through bankruptcy if in doing so GM no longer going to exist anyways?
Secondly, how and when GM is going to repay this $50 billion loan? It is a loan after all (so the Fed says anyways), so it is fair to expect that GM will have to pay this money back, but, how are we to expect them to repay us in a reasonable time frame if what is left of the Company is little larger than a regional retail outlet?

As I see it, what is left of “GM” is not capable of repaying the American taxpayers who paid so much money to help it come out of bankruptcy. Making it worse is that over 60% of what is left of GM is now owned outright by our Federal Government.
From a capitalistic standpoint this majority ownership means a lot of things. It means that everything GM does from here until the load is repaid will have to be done with government approval first. If no government approval is obtained, then GM will be unable to do many of the things they would otherwise be able to do to repay their debt to the American tax payer. This in turn means that private sector investment will all but dry up because of the Fed’s pathetic history in its attempts to run businesses who compete with the private sector.
All added up you have to ask yourself what was the point? If this is what it was going to take to make GM a viable company again then why didn’t the Federal Government simply let GM die as a result of its on gluttony and burdensome unionization?
Of course we can speculate as to why this is, but only Obama knows the real reason for it is he who approved the massive “bailouts” given to both GM and Chrysler. Whatever the reason’s, what we now have is government ownership of private enterprise. This is called Socialism, and from the looks of it we will be dealing with it for some time to come.