Taking Stock of the Troubled Asset Relief Program (TARP) de Alyssa L. Keegan

Taking Stock of the Troubled Asset Relief Program (TARP)

Alyssa L. Keegan

The financial crisis that gripped the U.S. in 2008 was unprecedented in type and magnitude. It began with an asset bubble in housing, expanded in the sub-prime mortgage crisis, escalated into a severe freeze-up of the inter-bank lending market, and culminated in intervention by the U.S. and other industrialised countries to rescue their banking systems. The centrepiece of the federal government's response to the financial crisis was the Emergency Economic Stabilization Act of 2008 (EESA), which authorised the Treasury Secretary to establish the $700 billion Troubled Asset Relief Program (TARP) and created the Congressional Oversight Panel to oversee the TARP. This book examines the Congressional Oversight Panel's assessment of TARPS's progress at the end of its first full year existence, and reviews what TARP has accomplished to date and explores where it has fallen short.

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Cuprins

Preface; December Oversight Report - "Taking Stock: What Has the Troubled Asset Relief Program Achieved?"; Testimony of Elizabeth Warren, Congressional Oversight Panel, Senate Banking Committee, - Hearing on "Emergency Economic Stabilization Act: One Year Later"; Statement of Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, before the Senate Committee on Banking, Housing, & Urban Affairs; Opening Statement of Elizabeth Warren, Congressional Oversight Panel, Senate Banking Committee, - Hearing on "Taking Stock: Independent Views on TARP's Effectiveness"; Opening Statement of Paul Atkins, - Hearing on "Taking Stock: Independent Views of TARP's Effectiveness"; Opening Statement of Damon Silvers, - Hearing on "Taking Stock: Independent Views on TARP's Effectiveness"; Testimony of Dean Baker, before the Congressional Oversight Panel for Troubled Asset Relief Program; Principles that Should have Guided TARP (Statement of Charles W. Calomiris, before the Congressional Oversight Panel); Testimony submitted to the Congressional Oversight Panel, Hearing on "The Overall Impact of the Troubled Asset Relief Program (TARP) on the Health of the Financial System & the General U.S. Economy"; TARP on a Businesslike Basis (Statement of Alex J. Pollock, Resident Fellow, American Enterprise Institute, before the Congressional Oversight Panel of the Troubled Asset Relief Program (TARP); Written Testimony of Mark Zandi, Chief Economist & Cofounder of Moody's Economy.com, before the Congressional Oversight Panel - Hearing on "Taking Stock: Independent Views on TARP's Effectiveness; Index.