Obama's $350 Billion To Go To Housing Crisis

From foxnews.com:

WASHINGTON — President-elect Barack Obama would spend the remaining $350 billion of a financial bailout fund on expanded lending and reduced foreclosures and would not use the money to help other industries, lawmakers said Wednesday after discussions with Obama emissaries.
The Senate was set to vote Thursday on whether to release the money. Lawmakers insisted that Obama advisers put their assurances in writing before the vote.
Seeking to secure votes from wary members of both parties, Obama aides fanned out across the Capitol on Wednesday. Their lobbying effort culminated in a closed door meeting between Senate Republicans and top Obama economic adviser Larry Summers and incoming White House chief of staff, Rahm Emanuel.
The private guarantees went further than what Obama's team has been willing to discuss publicly about his plans for the second half of the $700 billion Troubled Asset Relief Program.
Obama has asked Congress for the money and has been trying to overcome misgivings from lawmakers over how the Bush administration spent the first half of the fund.
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