Transfers a mass of toxic assets from banks to the government
The banks are in trouble because they are holding a mass of toxic assets, and the Act, in effect, transfers this mass of toxic assets to the government—i.e. it takes the toxic assets off the banks' hands.
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
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How should the US and other governments respond? »How should the US and other governments respond?
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Measures to alleviate the immediate symptoms? »Measures to alleviate the immediate symptoms?
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The Emergency Economic Stabilization Act 2008 »The Emergency Economic Stabilization Act 2008
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Transfers a mass of toxic assets from banks to the government
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