Bush considering "orderly" auto bankruptcy
1:23 PM Thu, Dec 18, 2008 | Permalink
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WASHINGTON -- The Bush administration is looking at "orderly" bankruptcy as a way to deal with the desperately ailing U.S. auto industry, the White House said Thursday as carmakers readied more plant closings and a half million Americans filed new jobless claims, according to The Associated Press. With Detroit anxiously holding its breath and waiting for federal help, White House press secretary Dana Perino said, "There's an orderly way to do bankruptcies that provides for more of a soft landing. I think that's what we would be talking about." President George W. Bush, asked about an auto rescue plan, said he hadn't decided what he would do. 
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