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The Emergency Economic Stabilization Act of 2008, establishing the Troubled Asset Relief Program, commonly referred to as a bailout of the U.S. financial system, was enacted.
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Emergency Economic Stabilization Act of 2008
US law creating the Troubled Asset Relief Program (TARP)
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks. The…Source: Wikipedia (CC BY-SA)
Troubled Asset Relief Program
US government program
The Troubled Asset Relief Program (TARP) 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 Congress and signed into law by President George W. Bush. It was a…Source: Wikipedia (CC BY-SA)
Bailout
Financial help to a corporation or country to avoid bankruptcy
A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term bail-in under which the bondholders or depositors of global systemically important financial institutions (G-SIFIs) are…Source: Wikipedia (CC BY-SA)