Senate Releases Second Portion of Bailout Fund - NYTimes.com

In the most recent letter, delivered shortly before the vote, Mr. Summers promised to use $50 billion to $100 billion for “a sweeping effort to address the foreclosure crisis.” He promised tough oversight and clear tracking of how the money is used, and new restrictions on executive pay at firms that receive help.

The vote was an early test for Mr. Obama, in which 6 Republicans joined 46 Democrats to release the money and keep the new administration’s agenda on track.

Senate Releases Second Portion of Bailout Fund - NYTimes.com