In fact, GM and Chrysler did repay their loans per conditions of the TARP program. The caveat is that the federal government took stock and part ownership of both companies as part of the bailout. When they sold the stock back to repay the debt, there was a 10 billion dollar shortfall in the purchase price of the stock. So, your post is accurate in the sense that the bailout did cost taxpayers 10 billion dollars. Do you think it would have been better to let those companies fail and destroy the American Auto market? How much would it have cost the taxpayers then?
I don't think it's fair to punish pension recipients for the mismanagement of the fund, especially if they had no say in the appointment of the managers.
Maybe we should have let the banks fail? That's what Iceland did? I know they sent multiple bank executives to jail but I don't know how they resolved the crisis. I do know their economy rebounded very well.