The Troubled Asset Relief Program (TARP)
It is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by a Democratic Party controlled Congress and signed into law by Republican Party President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.
It was basically to stabilize the country’s financial system, restore economic growth, and mitigate foreclosures in the wake of the 2008 financial crisis. TARP sought to achieve these targets by purchasing troubled companies’ assets and stock.
2 comments:
It's interesting how many people were against this, when it was for the greater good. I guess people who were anti-Wall Street believed the government cared more about the Wall Streeters than the non-Wall Streeters and that scared them.
The effectiveness of TARP was widely debated and still continues to be questioned. Some see it as a savior that helped stabilize the economy while others continue to view it as a complete failure
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