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Home > Art, Film & Photography > Troubled Asset Relief Program: Emergency Economic Stabilization Act of 2008, Oversight of the Troubled Asset Relief Program, Public Law 110-343
Troubled Asset Relief Program: Emergency Economic Stabilization Act of 2008, Oversight of the Troubled Asset Relief Program, Public Law 110-343

Troubled Asset Relief Program: Emergency Economic Stabilization Act of 2008, Oversight of the Troubled Asset Relief Program, Public Law 110-343


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About the Book

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 31. Chapters: Emergency Economic Stabilization Act of 2008, Oversight of the Troubled Asset Relief Program, Public Law 110-343, Neel Kashkari, Term Asset-Backed Securities Loan Facility, Capital Purchase Program, Neil Barofsky, Office of Financial Stability, Capital Assistance Program, Financial Crisis Responsibility Fee, Eric Thorson. Excerpt: The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L. 110-343, 122 Stat. 3765, enacted October 3, 2008, commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, and make capital injections into banks (however, the plan to purchase distressed assets has been abandoned). Both foreign and domestic banks are included in the program. The Federal Reserve also extended help to American Express, whose bank-holding application it recently approved. The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008. The original proposal was submitted to the United States House of Representatives, with the purpose of purchasing bad assets, reducing uncertainty regarding the worth of the remaining assets, and restoring confidence in the credit markets. The bill was then expanded and put forth as an amendment to H.R. 3997 . The amendment was rejected via a vote of the House of Representatives on September 29, 2008, voting 205-228. On October 1, 2008, the Senate debated and voted on an amendment to H.R. 1424, which substituted a newly revised version of the Emergency Economic Stabilization Act of 2008 for the language of H.R. 1424. The Senate accepted the amendment and passed the entire amended bill, voting 74-25. Additional unrelate...


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Product Details
  • ISBN-13: 9781155406060
  • Publisher: Books LLC, Wiki Series
  • Publisher Imprint: Books LLC, Wiki Series
  • Height: 246 mm
  • No of Pages: 32
  • Spine Width: 2 mm
  • Weight: 77 gr
  • ISBN-10: 1155406060
  • Publisher Date: 17 Aug 2011
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: Emergency Economic Stabilization Act of 2008, Oversight of the Troubled Asset Relief Program, Public Law 110-343
  • Width: 189 mm


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