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.
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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