However, he is wrong on some points, and once again is looking at what happened five minutes ago and will happen in the next five minutes. He failed to look close and hard at what happened, or chooses not to, what has happened over the past thirty years and what may happen in the long term future. While there may be some truth in what he said, there are also fallacies in his argument. What happened on Wall Street is end result of policies going back 10+ years. Don’t get me wrong, Wall Street isn’t completely innocent either. Clear, Wall Street took advantage of the situation. However, you have to look further than that. It wasn’t Wall Street that created the mortgage crisis, the banking crisis, the foreclosure rate, or the credit crisis. Wall Street by and large is playing the cards they are dealt to the their best hand.
While his argument is heart-swelled, compassionate, and seemingly sincere, it doen't seem to warrant the action that is being requested.
The biggest problem with GM, and I believe someone else nailed it, is there is no car passion at GM.