We should have insisted on owning a stake, given the risky nature of the loan, and the size, at the very least.
Large government loans to big industries are not uncommon. Ford secured a 5.9 billion dollar loan from the government in 2009 (not a bailout, a loan to retool factories).
That's not right either, but at least it's less wrong, as Ford had a far greater chance of repayment.
Government just should not be making loans like this to private entities at all.