Bailouts and rescue plans from "summary" of Too Big to Fail by Andrew Ross Sorkin
During the height of the financial crisis in 2008, the government was faced with a daunting task: how to prevent the collapse of several major financial institutions without causing a complete meltdown of the economy. The answer came in the form of bailouts and rescue plans, which aimed to inject much-needed capital into struggling banks and other financial firms to keep them afloat. These bailouts were not without controversy, as many critics argued that they were essentially rewarding the very institutions that had caused the crisis in the first place. However, proponents of the bailouts argued that the alternative - allowing these institutions to fail - would have had catastrophic consequences for the economy as a whole. One of the most high-profile bailouts was the Troubled Asset Relief Program (TARP), which was signed into law by President George W. Bush in October 2008. TARP authorized the Treasury D...
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