White House Will “Consider Other Options” for Automakers

Press Secretary Perino says Friday the Bush administration is discussing other measures to rescue the auto industry, including using TARP funds.

"A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time."

Full statement here.

Comes after the Senate kills the auto bailout bill late Thursday. Details here.