Question

What was the purpose of the Troubled Assets Relief Program (TARP) in late 2008?

Answer 1

Troubled Assets Relief Program (TARP) is a program of the United States government whose main purpose is to purchase assets and equity from financial institutions in order to strengthen its financial sector. It was signed by President George W. Bush on October 3.

Answer 2

The US government financially rescued failing banks to stabilize a struggling economy.