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Has George Bush lost his bottle in the car manufacturers crisis?

Despite suggestions only yesterday evening that George Bush was on the verge of announcing 11th hour rescue package for the US car manufacturing industry it appears that today second thoughts may be sweeping through the White House. The silence from within the US walls of power is deafening and more and more people are seriously concerned about the immediate future and the long-term viability of the industry.

It would appear that the major concern is the fact that in helping one particular industry this could open the door for many more claims and potential legal action against the US authorities. The banking crisis was slightly different in that without a liquid money market every business in the US would have struggled and failures would have been many times what they have been so far. However, whether the US government places more pressure on the banks to release emergency capital or use taxpayers money to bail out the car industry there are literally hundreds of thousands of jobs at risk.

This crisis in the US, and many other areas of the world, is turning into something which many had never predicted in their wildest dreams and one which is proving very difficult to control.

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