Emergency Economic Stabilization Act of 2008
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The Emergency Economic Stabilization Act of 2008 is a U.S. federal law enacted during the financial crisis to authorize large-scale government intervention, including the Troubled Asset Relief Program (TARP), to stabilize the financial system.
All labels observed (3)
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
financial crisis response law ⓘ |
| acronym | TARP-enabling legislation ⓘ |
| administeredBy | United States Department of the Treasury ⓘ |
| alsoKnownAs | Wall Street bailout law ⓘ |
| authorizesProgram | Troubled Asset Relief Program ⓘ |
| billNumber | H.R. 1424 ⓘ |
| codifiedIn | Title 12 of the United States Code ⓘ |
| context |
2007–2008 global financial crisis
ⓘ
subprime mortgage crisis ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| createsOversightBody |
Congressional Oversight Panel
ⓘ
Financial Stability Oversight Council ⓘ
surface form:
Financial Stability Oversight Board
Special Inspector General for the Troubled Asset Relief Program ⓘ |
| enactedBy | 110th United States Congress ⓘ |
| establishes |
Office of Financial Stability (historical)
ⓘ
surface form:
Office of Financial Stability
|
| FDICInsuranceIncreaseEffectivePeriod | temporary during crisis ⓘ |
| FDICInsuranceLimitAfter | 250000 USD ⓘ |
| FDICInsuranceLimitBefore | 100000 USD ⓘ |
| grantsAuthorityTo | Secretary of the Treasury ⓘ |
| includesProvision |
authority to inject capital into financial institutions
ⓘ
authority to purchase troubled assets from financial institutions ⓘ executive compensation restrictions for TARP recipients ⓘ foreclosure mitigation and homeowner assistance measures ⓘ increase in FDIC deposit insurance limits ⓘ insurance program for troubled assets ⓘ mark-to-market accounting study requirement ⓘ reporting requirements to Congress on TARP transactions ⓘ warrants or equity stakes for the federal government in assisted institutions ⓘ |
| initialTARPAuthorization | 700000000000 USD ⓘ |
| laterTARPReduction | 475000000000 USD ⓘ |
| legislativeChamberOfOrigin | United States House of Representatives ⓘ |
| legislativeType | omnibus bill ⓘ |
| maximumAuthorizedAmount | 700000000000 USD ⓘ |
| politicalDebate |
bailout of Wall Street financial institutions
ⓘ
moral hazard concerns ⓘ taxpayer risk and potential losses ⓘ |
| primaryPurpose | stabilize the United States financial system during the 2007–2008 financial crisis ⓘ |
| publicLawNumber | Public Law 110-343 ⓘ |
| relatedProgram |
Automotive Industry Financing Program
ⓘ
Capital Purchase Program ⓘ Public-Private Investment Program ⓘ |
| requires | periodic audits by the Government Accountability Office ⓘ |
| shortName | EESA ⓘ |
| signedBy | George W. Bush ⓘ |
| signingDate | 2008-10-03 ⓘ |
| sunsetProvision | limits new TARP commitments to a defined period ⓘ |
| title | Emergency Economic Stabilization Act of 2008 self-link ⓘ |
| yearOfEnactment | 2008 ⓘ |
Referenced by (18)
Full triples — surface form annotated when it differs from this entity's canonical label.
Office of Financial Stability (historical)
→
legalBasis
→
Emergency Economic Stabilization Act of 2008
ⓘ
Emergency Economic Stabilization Act of 2008
→
title
→
Emergency Economic Stabilization Act of 2008
self-link
ⓘ
Special Inspector General for the Troubled Asset Relief Program
→
legalBasis
→
Emergency Economic Stabilization Act of 2008
ⓘ
Special Inspector General for the Troubled Asset Relief Program
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createdBy
→
Emergency Economic Stabilization Act of 2008
ⓘ
Mental Health Parity and Addiction Equity Act of 2008
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partOf
→
Emergency Economic Stabilization Act of 2008
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this entity surface form:
Emergency Economic Stabilization Act of 2008 (as a rider)
Helping Families Save Their Homes Act of 2009
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relatedTo
→
Emergency Economic Stabilization Act of 2008
ⓘ
this entity surface form:
Emergency Economic Stabilization Act of 2008 (via TARP authority)