Mises Daily
Author:
Randall G. Holcombe
Online Publish Date:
Treasury Secretary, Henry Paulson TARP, the Troubled Asset Relief Program, is a year old now. On September 19, 2008, former Treasury Secretary Henry Paulson announced the need for a $700 billion program to purchase toxic assets held by banks to prevent a financial meltdown, and after some modification Congress rapidly approved TARP on October 3.