Nearly a decade after the financial crisis, Democrats and Republicans are still battling over how to liquidate behemoth financial institutions that fail.
Following Lehman Bros. September 2008 collapse, federal officials seized American International Group, and the Emergency Economic Stabilization Act of 2008 was signed into law.
The legislation created the $700 billion Troubled Asset Relief Program, which through its Capital Purchase Program made government investments in the nation’s financial institutions.
Source: Mortgage Daily
