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Was the Troubled Assets Relief Program(TARP) necessary to abate the possibility of complete collapse of our...

Was the Troubled Assets Relief Program(TARP) necessary to abate the possibility of complete collapse of our financial system leading to a recession or did it save financial institutions that should have been allowed to collapse? Explain.

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Answer #1

TARP program was necessary to prevent the possibility of fall of other financial institutions, because it was not only about the fall of the financial system, but also to help people remain confident in the economy and prevent the scope of chaos in the society.

If a big organization falls, then it negatively affects employees, their families, investors and other stakeholders. It decreases the confidence in the economy and people start doubting the government's efforts to resurrect the economy. Further, economic recovery also gets delayed if TARP program is not implemented. Hence, it became imperative for the government to implement TARP program and its objective was very broad along with helping the troubled financial institutions.

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