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.
CONTEXT(Help)
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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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