The global context and international effects of the troubled asset relief program (TARP) / Andrea I. Gallo and Danielle N. Flora, editors.

Format:

Book

Contributor:

Gallo, Andrea I., editor.

Flora, Danielle N., editor.

Series:

Economic issues, problems and perspectives series.

Economic Issues, Problems and Perspectives

Language:

English

Subjects (All):

Troubled Asset Relief Program (U.S.).

Economic stabilization--United States.

Economic stabilization.

Economic history--21st century.

Economic history.

Physical Description:

1 online resource (166 pages).

Place of Publication:

New York : Nova Science Publishers, Inc., 2011.

Summary:

The Troubled Asset Relief Program (TARP) was created by the Emergency Economic Stabilization Act (EESA) enacted on October 3rd, 2008. EESA was passed by Congress and signed by President Bush to address an ongoing financial crisis that reached near-panic proportions in September 2008. The Federal Reserve stepped in with emergency measures to restore liquidity, temporarily calming markets. Losses in mortgage markets, however, continued and spilled into other markets. Financial firms eventually wrote down many of these losses, depleting their capital. Uncertainty about future losses on illiquid and complex assets led to some firms having reduced access to private liquidity, with the loss in liquidity being in some cases catastrophic. This book examines the global context and international effects of TARP, here and abroad.

Contents:

The global context and international effects of the TARP : August oversight report / Congressional Oversight Panel

Troubled asset relief program (TARP) : implementation and status / Baird Webel.

Notes:

Includes index.

Description based on print version record.

ISBN:

1-5361-1662-9