TARP
Government & Politics abbreviation · Public Program
| Stands for | Troubled Asset Relief Program |
|---|---|
| Categories | Government & Politics |
TARP stands for Troubled Asset Relief Program, a public program abbreviation.
Financial-crisis program created by the Emergency Economic Stabilization Act of October 2008 that authorized up to $700 billion to buy bank assets and inject capital into banks, AIG and the auto industry, and to fund foreclosure prevention.
Example: TARP funds kept General Motors and Chrysler afloat through their 2009 bankruptcies.
Usage notes
Originally intended to buy toxic mortgage assets, it quickly shifted to direct capital injections. The Dodd-Frank Act cut its authority to $475 billion. Most of the money disbursed to banks was repaid with dividends and interest, while the auto and housing programs cost more than they returned. It remains politically shorthand for "bank bailout".
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