TARP Funds Helped Avert Financial Disaster

For Immediate Release:

September 16, 2009

Contact:Katie Grant
Stephanie Lundberg
(202) 225 - 3130

In remarks made after a speech marking the anniversary of the collapse of Lehman Brothers, Federal Reserve Chairman Ben Bernanke said yesterday that the recession is “very likely over.” Eleven months ago, the Democratic Congress worked with Chairman Bernanke and the Bush Administration to pass the Troubled Assets Relief Program (TARP) to avert an economic catastrophe. Included at the insistence of Democrats were provisions to protect taxpayers, including language to make sure that as the financial sector recovered from the crisis it helped create, taxpayers would be compensated. Today, the results are running far ahead of schedule and at far less cost than critics had predicted.
 
 
###
Posted in