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George W. Bush, Bill Clinton to Raise Funds for Haiti

Updated 5:46 p.m. ET

CBS News has confirmed that former Presidents George W. Bush and Bill Clinton will join forces to raise funds for Haiti in the aftermath of the devastating earthquake on Tuesday.

President Obama has not announced the plan yet, but is expected to do so in the coming days.

Update: Mr. Bush and Mr. Clinton released the following join statement late in the day on Thursday:

We are deeply saddened by the devastation and suffering caused by the recent earthquake in Haiti. The people of Haiti are in our thoughts and prayers.

We are pleased to accept President Obama's request to lead private sector fundraising efforts. In the days and weeks ahead, we will draw attention to the many ways American citizens and businesses can help meet the urgent needs of the Haitian people.

Americans have a long history of showing compassion and generosity in the wake of tragedy. We thank the American people for rallying to help our neighbors in the Caribbean in their hour of suffering - and throughout the journey of rebuilding their nation.

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