'The Energy Department is now accepting applications for those loans and we'll continue to work with Congress on the others,' Perino said. Also Monday, Members of Michigan's congressional delegation held a 45-minute conference call and sent Treasury Secretary Henry Paulson a letter urging him to provide immediate assistance to automakers, saying they face 'a significant and systemic threat to the U.S. economy.' Legislators said inaction 'is not an option.' 'As you know, both General Motors and Ford released 3rd Quarter earnings last week that make clear the severity of the strain the auto industry is experiencing. It is our view providing emergency assistance to this uniquely important industry, which is struggling to meet the challenge of a severe financial crisis that has spread far beyond Wall Street, is consistent with the authority granted to you by EESA, and indeed well within the broad mandate of the Treasury Department,' the letter obtained by The Detroit News said. Perino was asked why the administration was willing to boost the bailout to insurer AIG to $150 billion, $27 billion more than previously, but not take equity stakes in automakers. 'If (Congress) wants to do anything in addition for the automakers, we'll certainly listen to ideas they have on how to accelerate the (retooling) loans to viable companies, as laid out in the legislation. I think right now we need to let them to continue to do their work,' she said. One big issue for automakers is whether they can meet the requirements on 'financial viability' that is part the $25 billion Energy Department loan program. Detroit's Big Three automakers are burning through large amounts of cash amid plunging car and truck sales and it isn't clear whether they could pass the financial tests required in the Energy Department rules. House Speaker Nancy Pelosi, D-Calif., and Sen. Majority Leader Harry Reid, D-Nev., sent a letter to Paulson on Saturdy urging them to grant automakers immediate access to the $700 billion bank bailout plan in exchange for equity stakes in the automakers and limits on executive compensation and bonuses. President-elect Obama and President Bush met this afternoon in the Oval Office and were expected to discuss the problems of Detroit's Big Three automakers. You can reach David Shepardson at (202) 662 - 8735 or dshepardsondteom.