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President George W. Bush delivers a statement regarding the automobile industry Friday, Dec. 19, 2008, from the Roosevelt Room of the White House. Said the President, "Today, I'm announcing that the federal government will grant loans to auto companies under conditions similar to those Congress considered last week... By giving the auto companies a chance to restructure, we will shield the American people from a harsh economic blow at a vulnerable time. And we will give American workers an opportunity to show the world once again they can meet challenges with ingenuity and determination, and bounce back from tough times, and emerge stronger than before." White House photo by Chris Greenberg
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