Bush considering “orderly” auto bankruptcy

The Bush administration is seriously considering “orderly” bankruptcy as a way of dealing with the desperately ailing U.S. auto industry.

“The president is not going to allow a disorderly collapse of the companies,” White House press secretary Dana Perino said Thursday. “A disorderly collapse would be something very chaotic that is a shock to the system.”

Clarion Ledger
12/18/8