Question: 58. TARP Funds. The Troubled Asset Relief Program (TARP), passed by the U.S. Congress in October 2008, provided $700 billion in assistance for the struggling

58. TARP Funds. The Troubled Asset Relief Program (TARP), passed by the U.S.

Congress in October 2008, provided $700 billion in assistance for the struggling U.S.

economy. Over $200 billion was given to troubled financial institutions with the hope that there would be an increase in lending to help jumpstart the economy. But three months later, a Federal Reserve survey found that twothirds of the banks that had received TARP funds had tightened terms for business loans (The Wall Street Journal).

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