Once proud US car maker posts massive Q2 loss:

General Motors Corp. reported today a $15.5 billion loss in the second quarter, the third-largest quarterly loss in the company's 100-year history, which comes amid a weak auto and housing market, costly strikes at American Axle, massive restructuring and a money-losing financial unit.

Folks in Michigan have been understandably grumbling and asking the question: the government bailed out Bear Stearns and Fannie & Freddie, so why does it not seem interested in coming to the rescue of GM? Such is the slippery slope that government interventions puts us on.