His arguments are indeed very well presented and he could have made much more of it by mentioning all the other businesses that are tied into the success of the US car industry.
However...very few people want to point out that there is going to be no way in hell that any of this bailout is ever going to truly get paid for. No matter what is done now it ends in failure because our own media have failed to throw light on what was really going on long ago. No-one talks about central banks conjouring money out of thin air and then charging interest on it and then being the sole provider of this initial amount they are also the only source of extra money to pay for the interest on the initial amount! The only way for the system to work is for the economy to grow exponentially forever! For the Earth to be an infinitely huge dustbin as well as have infinite resources.
I've deleted the rest as I really cba with the comments it would attract.
Those in the know are all too well aware of how this story ends.