President George W Bush will not allow a “disorderly collapse” of the US automakers, a White House spokeswoman said on Thursday.
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“The president is not going to allow a disorderly collapse of the companies. That is not an option,” White House spokeswoman Dana Perino told Reuters.
“We’re nearing a conclusion, we’re narrowing options.”
There had been expectations early this week the Bush administration would announce an auto industry rescue plan by Wednesday but the spokeswoman told reporters there was nothing to say yet.
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