By Armen Hareyan on 2008-12-18 

According to AP "The White House says a managed bankruptcy for automakers is one option being considered to help save the troubled industry.
"White House press secretary Dana Perino told reporters Thursday that "we're going to do something." The Bush administration wants to avoid what it calls a "disorderly collapse" of car companies that would result in devastating job losses and sweeping economic problems."

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