2008day.year
The Emergency Economic Stabilization Act of 2008 for the U.S. financial system is signed by President George W. Bush.
President George W. Bush signed the Emergency Economic Stabilization Act, authorizing a $700 billion bailout package to rescue the U.S. financial system.
On October 3, 2008, amid the global financial crisis, President George W. Bush enacted the Emergency Economic Stabilization Act. The legislation established the Troubled Asset Relief Program (TARP), granting the Treasury Department authority to purchase distressed assets and inject capital into banks. Its goal was to stabilize financial markets and restore confidence in the banking sector. Congress approved the measure after intense debate over the size and scope of the bailout. The Act marked one of the largest government interventions in the U.S. economy since the Great Depression. Critics argued it favored Wall Street over average citizens, while supporters warned of deeper economic collapse without it. TARP funds were later used to shore up major financial institutions and auto companies, influencing global economic policy.
2008
Emergency Economic Stabilization Act of 2008