SAS: Unpacking the Financial Crisis

In September 2008, the subprime mortgage crisis emerged as a global economic crisis that rocked the world’s financial system and triggered responses from governments of many countries. On October 3, 2008, the Emergency Economic Stabilization Act of 2008 was signed into law to provide for a troubled asset relief program (TARP). Under this program a $700 billion liquidity pool was made available to purchase or insure any troubled assets and to cover any administrative and custodial expenses