White House and Treasury Say They Won't Let Struggling U.S. Automakers Fail

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Barbara Hagenbaugh and Steve Marshall from USA Today: The White House and the Treasury gave strong indications Friday that the U.S. government, at least temporarily, would help prop up the American auto industry. "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 the administration is considering using the Wall Street rescue fund to prevent the USA's strapped carmakers from failing.

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