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White House, Treasury say they won't let automakers fail (click title to entry - thank you)
..."Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," Treasury spokeswoman Brookly McLaughlin said.
And, White House spokeswoman Dana Perino said it is considering using the Wall Street rescue fund to prevent the USA's strapped carmakers from failing.
"Given the current weakened state of the U.S. economy, we will consider other options if necessary, including use of the TARP program, to prevent a collapse of troubled automakers," White House spokeswoman Dana Perino told reporters aboard Air Force One as President Bush headed to Texas....