It is likely that Wagoner was ousted by the Obama admin because he didn’t screw his workers enough, which is the real game at play here, This crisis was manufactured as it has in the past in other regions of the globe in order to bring wages down and consolidate the power base of the ruling elite.
Naomi Klein makes the case for this argument in her book the Shock Doctrine if you haven;t read this book I urge you to pick up a copy.
The link below is a lecture she gave on the topic
http://www.youtube.com/watch?v=Ka3Pb_StJn4

Yeah!!!!!!!
Was the only solution that asshole came up with was the Union concessions, and if that wasn’t enough he’d go back for more?
These CEO’s have been playing this game for decades, the old ‘We’re going down because of the Unions’- The top brass and their legion of white collar paper pushers after been living off the fat of union labor for decades. Please don’t tell me they have the Best & Brightest ‘management skills’- when they have not only run the Co into the ditch several times- but have intentionally kept it there…We Knew we needed better fuel efficient cars and alternative fuels since the ‘70’s- Even/Odd Days anyone? Inthe ‘80’s they were handed a prototype of an eletric car and they buried it. It was no the line worker who insisted on building gas guzzlers and appeasing the Oil Corp Overlords. Sen it down the line- they’ll assemble it (including cabins for light rail trains too Mr. Boenher).
Lop the fat head off the top of these corps and let the rank and file do what thye have done best- produce. Get some real innovative engineers and scientist to come up with the enigine and let the workers build it. Cut out the layer and layers of Middle management- who DO NOTHING but collect a check afforded to them by the blood,sweat & tears of those who actually labor and put someone in charge at the top who has the desire to see these corps live on for futre generations. These assholes have allowed their own personal greed and egos to detroy the very foundation this country’s Economic wealth originate from- The working middle class.Screw the Worker, you are screwing the consumer and the taxpayor- We are One in the Same!

Meanwhile the deregulation engineers of the financial fallout are Obama’s handpicked team—to which he defends and defers.

  Don’t think for a moment we don’t notice the act for public consumption.

Because Obama is Wall Street’s b#tch, that’s why.