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TARP helped prevent a second Great Depression, stabilized a collapsing financial system, and restarted the markets that provide mortgage, auto, student, and business loans. TARPs investment programs are closed.
The crisis rapidly spread into a global economic shock, resulting in several bank failures. Economies worldwide slowed during this period since credit tightened and international trade declined. Housing markets suffered and unemployment soared, resulting in evictions and foreclosures. Several businesses failed.
Bush and Barack Obama signed into law several legislative measures to counter the financial crisis, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Emergency Economic Stabilization Act (EESA), which created the Troubled Asset Relief Program (TARP).
The Emergency Economic Stabilization Act of 2008, also known as the bank bailout of 2008 or the Wall Street bailout, was a United States federal law enacted during the Great Recession, which created federal programs to bail out failing financial institutions and banks.
To make sure that a crisis like this never happens again, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. The most far reaching Wall Street reform in history, Dodd-Frank will prevent the excessive risk-taking that led to the financial crisis.
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The EESA is widely credited with restoring stability and liquidity to the financial sector, unfreezing the markets for credit and capital, and lowering borrowing costs for households and businesses. This, in turn, helped restore confidence in the financial system and restart economic growth.

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