Saturday, December 13, 2008

White House promises last-ditch auto rescue

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With Congress gridlocked and the economy floundering, the Bush administration declared Friday it would step in to prevent the "precipitous collapse'' of the U.S. auto industry and the disastrous loss of hundreds of thousands of jobs sure to follow. United Auto Workers President Ron Gettelfinger said Friday that he's happy the Treasury Department says it's ready to act to stop a possible collapse of the industry.

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