WASHINGTON (Xinhua) – The financial rescue program launched two years ago has played a critical role in rebuilding confidence of the financial sector, the U.S. Treasury Department said on Tuesday.
In its Retrospective Report on the Troubled Asset Relief Program (TARP) to the Congress, the Treasury said that the plan ” played a critical role in stabilizing the financial sector and restarting credit markets, so that our nation’s economy could recover.”
The 700-billion-dollar program, which was launched in late 2008 after the global financial crisis burst, injected government investment into many big financial institutions.
The report provides a comprehensive overview of the steps that Treasury took under TARP to contain a growing financial panic that gripped the country in late 2008 and early 2009.
The department said that the program made great contribution in recapitalizing the financial sector and restarting the credit markets, which made it possible for businesses, municipalities, and families to borrow again, so that our economy could recover.
According to the report, Treasury now estimates that the total cost of TARP will be about 50 billion U.S. dollars.
However, critics said that the TARP was a waste of taxpayers’ money and added new burden to the country’s already severe fiscal deficit problem.
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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