"The banks were even more broke than we were. Who had the money?" he told the Detroit Free Press in February. "Loan guarantees don't do any good if the banks don't have any money."
You and he are both idiots or you're just doing your usual best to protect Obama.
The "credit freeze" affecting the financial system occurred in September, 2008, when Lehman Bros. collapsed. The Federal Reserve stepped in and guaranteed commercial paper and bank loans for the large banks and corporations.
GM did not declare bankruptcy until June 1, 2009, over 8 months after Lehman collapsed. By then, banks were lending again. A fully federal government guaranteed loan to GM would have been the same as the bank buying a U.S. government treasury security, except the bank could have charged a little more for the operational expense.
Banks were buying U.S. government securities in massive amounts in 2009.
Your belief that banks didn't have money is just idiotic and an attempt to re-write history.