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The language in the Troubled Assets Relief Program, or TARP, gives the SEC the authority to suspend the rule.
NPR: Firms Blame Financial Woes On Accounting Rule
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The actions taken by the Treasury Tuesday fall under the rubric of the Troubled Assets Relief Program that is the centerpiece of the bailout bill Congress passed earlier this month.
FORBES: The Ownership Society
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Perhaps the biggest driver of the Tea Party movement was not the health care debate, but the bailout of Wall Street and the creation of the Troubled Assets Relief Program.
CNN: Commentary: How GOP can manage Tea Party
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Market participants are worried that a Congressional drama would lead to a big sell off on par with what occurred in October 2008 when Congress rejected the Troubled Assets Relief Program under George W. Bush.
FORBES: If Congress Chooses Made-For-TV Drama, Taxes Will Rise For All
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The financial institutions with assets that they could not price can now maintain that the mere existence of the Troubled Assets Relief Program (TARP) means that there is a potential market for the securities that they could not sell previously.
FORBES: Briefing Book: A. Michael Lipper
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From " Bailout: An Inside Account of how Washington Abandoned Main Street While Rescuing Wall Street, " by Neil Barofsky, former special inspector general to oversee the Troubled Assets Relief Program: Federal Reserve chairman Ben Bernanke "confided that he believed that Goldman Sachs would have been the next to go" after Morgan Stanley.
CNN: A case of Wall Street greed gone too far