When

• TARP was approved and passed by Congress on October 3, 2008. The official title of the bill is called the Emergency Economic Stabilization Act of 2008 (EESA).
  
  

Why

• The bill was passed in order to give the Treasury Department authorization to release $700 billion into the economy in order to give relief to struggling businesses. Businesses experiencing hardship attempt to recover by cutting costs.
  
  

Objective

• The objective planned for the TARP money is the stabilization of the economy and the shoring of a rapidly dropping real estate market. TARP money is intended to slow foreclosure rates, support mortgage financing and protect the taxpayer.
  
  

Accountability

• The Congressional Oversight Panel is responsible for the accounting of TARP funds. The Panel holds the responsibility of reporting when, where and how the money is used.
  
  

Intent

• The intent behind TARP funding is to preserve jobs that feed money into the economy, to preserve homeownership and to protect the bank assets of individuals. In an effort to rejuvenate the American financial system, Congress seeks to balance the American way of life.