Rescuing GM saved the entire US auto industry. Had GM vanished, the independent parts suppliers that make the upholstery, alternators, mirrors and other car parts would have also gone under, and that would have taken out Ford as well.
It was the right thing to do. The New GM cars are the best they have ever built, at least in appearance and the look of quality materials. No one really knows how good a car will be until they have put 50K miles on it, but they look promising, especially the Buick LaCrosse and Regal and the Chevy Cruze. A major improvement from the Cobalt and the icky Cavalier.