Oregon Public Broadcasting

President-elect Obama's economic team is courting Oregon's Senators and others about the remaining cash in the banking bailout fund. April Baer reports.

$350 billion remain in the Troubled Asset Relief Program, or TARP. The incoming administration would like use it, but few details are publicly available on how the cash would be spent.

Many Senators have expressed reservations about releasing more money.

Democratic Senator Ron Wyden sits on the Senate Finance Committee, and says he still needs convincing.

Ron Wyden   "This is an area where -- in my view -- there have been an enormous array of problems. And I'll have to look at the details of any TARP proposal."

Wyden wouldn't say what kind of protections and oversight he's looking for, but he says he's open to what the Obama team has to say.

Democratic Senator Jeff Merkley has also indicated he thinks TARP needs more oversight and has said that direct aid for foreclosure prevention would be an appropriate part of future packages.