For ten points, name this government program meant to use 700 billion dollars to recapitalize U.S. banks.
It has led a number of institutions to reconfigure themselves as bank holding companies, including Morgan Stanley, Goldman Sachs, and GMAC. Originally devised as an asset purchase program, its focus shifted to taking capital stakes in the institutions it is meant to help, and eventually, to consumer loans, after criticism that it is not helping unthaw the credit markets. It is a five-year mission, as the Treasury will recover any losses after five years of operation and the government is supposed to get back all of its money. For ten points, name this government program meant to use 700 billion dollars to recapitalize U.S. banks.
It has led a number of institutions to reconfigure themselves as bank holding companies, including Morgan Stanley, Goldman Sachs, and GMAC.
{Troubled Asset Relief Program} (let's take the bailout)