The issue is that the government allowed those companies to grow so large. I heard one tenth of all jobs in the US are "connected" to the three auto companies. That number is enough to scare any politician into a bailout.
Connected does not mean own. Connected includes the parts manufacturers, Rail and road transportation for both parts and finished products, steel and other metal mining and manufacturing companies that make the materials, Auto Insurance companies, Glass manufacture companies, fiberglass manufacture companies, electronics manufacture companies, Health insurance for all of the above types of companies, fuel or electricity for all of the above types of companies, fuel for the autos themselves, refining and transportation of said fuel. Take it a little further in the indirectly related, and you can add the grocery stores that the employees use to feed themselves, the education for the children said employees...... I'm sure I could come up with more that are directly or indirectly related, if I really try hard.
The universe does not have laws -- it has habits, and habits can be broken.