Emergency+Economic+Stabilization+Act+of+2008

George Bush started the war with Iraq and that just put the cherry on top of the struggling economy. With his second term in office coming to an end he tried to do something to help the economy rise before the president elect took office. Bush came up with the Emergency Economic Stabilization Act of 2008. This bill was created to help people and businesses with their credit and also to help with the fact that people were losing their homes at a quick pace. This was called Troubled Assets Relief Program and was put in place mainly to help with the homes. Also the created the Capital Purchase Program which allows the United States government the opportunity to put money back in the economy by investing. It can also be used to help families and businesses with their credit in order to attend school or create jobs. “(Sec. 101) Authorizes the Secretary of the Treasury (Secretary) to establish the Troubled Asset Relief Program (TARP) to purchase troubled assets from any financial institution, in accordance with terms, conditions, policies, and procedures the Secretary develops. (Thomas). The secretary of the treasury is put in charge of the new duties. Periodically he is required to report back to congress on how the spending is going.