Obama grants Fox News its first question at his press conference.

During today’s press conference, President-elect Barack Obama called on Fox News to ask a question for the first time since the election. Fox News had not been called on in Obama’s five prior press conferences. Fox’s Wendell Goler began by thanking Obama for calling on him, and then proceeded to ask about the TARP funds and Bill Richardson’s now-removed beard. Obama began by offering a light-hearted take on Richardson’s beard:

I’m going to answer this question about the beard. I think it was a mistake for him to get rid of it. I thought that whole western, rugged look was really working for him. … We’re deeply disappointed with the loss of the beard.

“With respect to TARP,” Obama said, quickly turning the page, “my team has been reviewing very carefully how the TARP program has proceeded.” Obama stressed that one of his first principles is “strong oversight.” Watch it: