Troubled Asset Relief Program: Legislation and Treasury Implementation (CRS Report for Congress)
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| Release Date |
Revised March 24, 2009 |
| Report Number |
RL34730 |
| Report Type |
Report |
| Authors |
Baird Webel, Analyst in Financial Economics; Edward V. Murphy, Specialist in Financial Economics |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
In the 111th Congress, changes to TARP were incorporated in the stimulus act. In addition, a bill(H.R. 384) was introduced by Chairman Barney Frank on January 9, 2009, and passed the Housewith four amendments on January 21, 2009, that would amend the EESA. The bill includesstricter conditions on institutions receiving TARP funds, requires assistance for homeowners, andspecific authorization for, and conditions on, financial assistance for automobile manufacturers.This report places EESA in the context of financial turmoil, discusses Treasury's implementationof TARP, and then analyzes financial turmoil more generally.
