No shit, sherlock. Isn’t this what conservatives said should happen rather than sending the auto company checks worth multiple times its market capitalization? But now that we’ve wasted $14 billion of taxpayer money it’s being considered. Unbelievable.

General Motors’s new chief executive told CNBC that filing for Bankruptcy may be the best option for the struggling automaker.

In a taped interview to be aired tonight on NBC Nightly News, Fritz Henderson said that because of greater demands from the Obama administration to restructure, GM is considering the bankruptcy option. The auto giant previously had ruled out such a move, saying it would discourage people from buying GM cars.

Henderson’s comments came after President Obama bluntly rejected turnaround plans by GM and Chrysler and demanded that both companies make fresh concessions in order to get more federal aid. …

Henderson says GM  needs to work faster and go deeper to get more concessions from bondholders and the United Auto Workers union. President Obama has demanded that GM come up with a better restructuring plan in 60 days in order to qualify for more government aid.

You mean simply filling the company’s coffers doesn’t fix the fundamental problems or provide incentive for all parties to make concessions? Wow, that’s like exactly what we said before the checks were sent out. But those who opposed simply sending taxpayer money were accused of wanting to put millions out of work; destroy companies that oh so rely on the automaker; and only wanting to bailout financial institutions while leaving American workers out to dry. And now, months and billions of dollars later, GM is in the same position it was back in November.

Jazz Shaw rightfully joins in the chorus of “told ‘ya sos”:

Nay nay, we were told! Not only is GM too big to fail, but they are an American icon, right up there with the Statue of Liberty and the original Betsy Ross edition of the Stars and Stripes. All they need is a bit more time and some of our money to reorganize and begin producing lean, green cars that people actually want. …

Now I only have one question for the table here. What happens to the money we already gave them? Do the taxpayers get paid back as part of the bankruptcy reorganization, or does this turn into another lump of debt piled on with the rest, left to us to pay off? “Oh well, you put your money in a bad investment and now it’s gone, just like your 401K.”

And, not to be one of those “we told you so” people, but… couldn’t we have done this last year?

Am I the only one not comforted by the White House guaranteeing our warranties?