I could have sworn Bush was the one that did that. Bush announces $17.4 billion auto bailout "If we were to allow the free market to take its course now, it would almost certainly lead to disorderly bankruptcy," Bush said at the White House, in remarks carried live by the national broadcast networks. "In the midst of a financial crisis and a recession, allowing the U.S. auto industry to collapse is not a responsible course of action. The question is how we can best give it a chance to succeed." Bush said that "bankruptcy now would lead to a disorderly liquidation of American auto companies."