Lohan was arrested in Los Angeles on Tuesday and charged with driving under the influence and possession of cocaine.
Waters says, "Unlike other celebrities in the news going to jail, she's actually somebody who has got verifiable talent and actually good at what she does.
"I'm certainly not going to be seeking her out until she gets her personal life in order. On a business level, most companies aren't going to want to take the chance making a movie with someone who is unreliable.
"I think eventually, because she is good, she will get around to working again. She's still so young. She's only 21.
"If you don't want to attract the attention, you don't have to attract the attention. But if you crave the attention, believe me, they're there to snap it for you."
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