GM Largest Bankruptcy Ever in USA?

GM is not the largest bankruptcy ever in the USA. GM is the largest Industrial Sector bankruptcy ever in the USA.

It might be a better perspective to list the hierarchy of the largest bankrupt entities in the USA in light of the GM bankruptcy:

(1) US Federal Government,

(2) State Governments,

(3) County Governments,

(4) City Governments.


Many observers point to GM's bankruptcy being a function of Poor Management and a Unionized Work Force. Could one then make the argument that all forms of US Governments are run by Poor Management and function with a Unionized Work Force hence leading to bankruptcy?