The head of the United Auto Workers union lashed out Friday at Senate Republicans -- Tennessee Sen. Bob Corker, in particular -- blaming them for scuttling the $14 billion auto bailout package approved earlier in the week by the House.

GOP objections stalled the measure in the Senate Thursday night. Republicans put pressure on the powerful autoworkers union as they tried to squeeze out concessions in exchange for their support.

"This was just simply subterfuge on the part of the minority in the Republican Party who wanted to tear down any agreement that we came up with," UAW President Ron Gettelfinger said at a press conference, declaring "the auto industry around the world is in peril."

Intense negotiations broke down over the union's refusal to meet GOP demands for wage cuts. Corker, the architect of the Republican counterproposal to the House-approved bill, told FOX News that negotiators were "just three words away from a deal."

But Gettelfinger said Republicans were holding the union to a "double standard" and trying to applying an undue burden on their workers.

He questioned whether Republicans had an ulterior motive, but said the union was nevertheless willing to negotiate.

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Corker rejected the accusations, telling FOX News the union simply refused to offer a date by which they could be competitive with foreign automakers who have plants in the United States.
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Wall Street bailout targeted for Big 3
Bush, in flip, eyes $700B bailout to rescue GM, Chrysler.

NEW YORK (CNNMoney.com) -- The Bush administration said Friday it might use taxpayer dollars set aside to bail out banks and Wall Street firms to keep troubled U.S. automakers out of bankruptcy.

The administration's announcement, which reverses its previous position on how to help the auto industry, effectively revives a bailout proposal killed by senators of the president's own party just hours earlier. That plan had the support of congressional Democrats and the White House, but would have used a different source of funds to provide $14 billion in federal loans.

The move could provide an 11th-hour short-term lifeline to General Motors (GM, Fortune 500) and Chrysler LLC, which have warned they are within weeks of running out of the cash they need to continue to operate.

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Details of when the help might be provided out of TARP, how much money would be made available, and any restrictions on the cash were not immediately available. The Treasury Department, which controls the TARP fund, also said it was looking at using the remaining money as stopgap help for the automakers.

"Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," Treasury said in a statement.