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On February 5, 2009, the Senate approved changes to the TARP that prohibited firms receiving TARP funds from paying bonuses to their 25 highest-paid employees. The measure was proposed by Christopher Dodd of Connecticut as an amendment to the $900 billion economic stimulus act then waiting to be passed. [ 24 ]
Treasury established several programs under TARP to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures.
3 paź 2008 · After starting out as the Troubled Asset Relief Program, a plan to buy up troubled mortgages, the TARP soon morphed into a bailout of the giant insurer AIG, the nation’s banks, and then the auto...
15 kwi 2009 · We're tracking where taxpayer money has gone in the ongoing bailout of the financial system. Our database accounts for both the broader $700 billion bill and the separate bailout of Fannie Mae and...
10 cze 2009 · Ten financial groups including JPMorgan Chase and Goldman Sachs were on Tuesday allowed to repay a combined $68bn to the US Treasury in a move that marks a turning point in the economic crisis...
TARP funds were invested in both large and small banking institutions. TARP's bank programs earned significant positive returns for taxpayers. As of September 30, 2023, Treasury recovered $275.9 billion through repayments and other income - compared to the $245.5 billion originally invested.
TARP is the Troubled Asset Relief Program, created to implement programs to stabilize the financial system during the financial crisis of 2008. It was authorized by Congress through the Emergency Economic Stabilization Act of 2008 (EESA) and is overseen by the Office of Financial Stability at the U.S. Department of the Treasury.
