I see that GM paid out a dividend of $0.25 per common share just a few months ago on 05/14/2008. The problems were well underway by then, yet they chose to piss away about $140MM in cash. That alone should disqualify them for a bailout, at least as long as the current management and board remains in place.
http://finance.yahoo.com/q/hp?s=GM&a=04&b=14&c=2...
At least Ford had the common sense to cut off dividends in 2006.