Will the government rescue GM again?

With a recent rush of recalls of more than 2 million cars, multiple deaths connected to defective ignitions and the revelation that the company knew about the problem for more than a decade, it would seem General Motors is up against a wall.

Then why are company lawyers and industry analysts confident the auto maker’s losses related to the recall and resultant litigation will be a “mere trifle?”

According to reporting by Bloomberg Businessweek, GM’s attorneys are claiming the company’s bankruptcy restructuring and government bailout of 2009 protects the “new” GM from lawsuits against the “old” GM. Harvey Miller, GM’s lead bankruptcy lawyer, is quoted as saying the time to litigate claims for problems that occurred before 2009 “has long passed.”

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