Bush White House: On the auto deal

The Washington Post reports, “The White House was moving closer yesterday to a dramatic restructuring of the nation's ailing automakers, deliberating among several options including an ‘orderly’ bankruptcy in return for an emergency government infusion of billions of dollars. As the White House raised the prospect of bankruptcy, senior officials at the Treasury Department were coalescing around an alternative that would reshape the companies but not require them to file for bankruptcy protection,...( read more ) (link)