Lilo, you can't (with integrity) just define terms to satisfy your polemics. Here's why you're wrong:

Sometimes when the technical aspects of something are rendered in an article for general consumption, the authors use language that, while understandable to most people, does not accurately represent technical provisions of that something. This is the case with many of the articles available on the Web about the federal government’s financial relationship with AIG and GM. Thus,
• The initial $85 billion (and subsequent) loaned by the Fed to AIG is secured by a pledge of AIG’s assets.
• Additionally security is provided through AIG issuance of preferred stock convertible into 79 percent of AIG's outstanding common stock which was placed in a Treasury Dept trust.
• Why preferred, why the Treasury, and why a trust? Because preferred stock holders receive dividends before common stock and are entitled to any settlement before common stock holders; the Treasury because it sold debt on behalf of the Fed; and in a trust to remove any conflict of interest. Why convertible? Because the Fed wants repayment not ownership.

• Nevertheless, the rights of the Federal Reserve are no more than those typical of a large creditor and are governed by the agreement between the Fed and AIG. As a result and among other things, AIG agreed to replace its CEO and the New York Federal Reserve Bank established a team to review the financial condition of AIG, and monitor the implementation of AIG's plan to restructure itself. However, the Federal Reserve does not have statutory authority over AIG.
• Subsequently, the Treasury Dept. loaned AIG over $40 billion in return for which AIG issued additional preferred stock to Treasury.
The Fed and Treasury hope is that the value of AIG’s assets can eventually increase to a level sufficient for AIG to sell them to repay its loans. That is why all of the loans have been restructured a couple of times already to accommodate economic changes. Thus,
• in consultation with management of AIG and outside advisers retained by the Federal Reserve, the Fed announced on March 2, 2009 a plan designed to provide longer-term stability to AIG while at the same time facilitating divestiture of its assets and maximizing likelihood of repayment to the U.S. government.
The Fed and Treasury are not necessarily interested in AIG surviving. They are interested primarily in AIG being able to sell its components to buyers who will use those components to provide insurance to customers just as AIG did.
On the other hand, the federal government has loaned a relatively small amount to GM (compared to AIG) which is collateralized by GM’s assets for the purpose of assisting GM’s survival. The federal government does not own any portion of AIG or GM.