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Archive Home > 2008 > December > 13 > White House vows to keep automakers from collapse

White House vows to keep automakers from collapse

Fearing market panic, administration considers tapping $700B rescue fund

By Stephen Labaton and David M. Herszenhorn / The Bulletin
December 13, 2008

WASHINGTON — The Bush administration said on Friday that it was prepared to intervene to prevent the collapse of the Big Three auto companies after Republican senators blocked a compromise proposal to rescue the automakers.

The decision came after a tense 48-hour standoff in which....

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