UPDATE 2-Obama sees GM emerging quickly from bankruptcy

* Obama says GM has chance to succeed

* Chrysler to emerge within days from bankruptcy

* GM, Chrysler failure would have harmed economy-Obama

* Gov't has no specific timetable for exiting stake (Adds task force adviser on stake, recouping financing)

By John Crawley

WASHINGTON, June 1 (Reuters) - U.S. President Barack Obama said on Monday he was confident General Motors Corp GM.N would emerge quickly from bankruptcy, saying the government is in a reluctant position as a controlling shareholder.

Obama, in remarks at the White House just hours after GM sought bankruptcy protection in New York, said the automaker -- not his administration -- would make decisions on plants, new products and day-to-day operations.

"Our goal is to get GM back on its feet, take a hands off approach and get out quickly," Obama said.

A White House/Treasury task force overseeing the restructuring of GM and Chrysler estimates that GM's bankruptcy would take 60 to 90 days to complete.