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Troubled Asset Relief Program

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Troubled Asset Relief Program (TARP)
A $700 billion fund created in response to the credit crunch that hit the US in 2008. The original intent of the fund was to allow the Treasury to buy illiquid mortgage-related assets. The fund was ultimately used to provide direct capital infusions to distressed financial institutions.


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19 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today on President Obama's announcement for funding from the Troubled Asset Relief Program (TARP) to help support homeowners in California, Nevada, Arizona, Florida, Michigan: "President Obama's announcement is an encouraging step in the effort to stabilize our nation's housing markets, help unemployed homeowners, and bring relief to many families hardest hit by the recession.
6 billion in Troubled Asset Relief Program funds it received to help fund its 2008 acquisition of National City Corp.
s estimates last summer of 341 billion dollars in potential losses from the Troubled Asset Relief Program, the report said.
 
 
 
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