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27-02-2020
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What role did the Congress play in the Great Recession of 2008? (Note which party had a majority in Congress and how that might have impacted how each president was able to respond.)

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27-02-2020

Answer:

Congress passed TARP to allow the U.S. Treasury to enact a massive bailout program for troubled banks. The aim was to prevent both a national and global economic crisis. ... Had TARP, ARRA, and the Economic Stimulus Plan not been enacted, the 2008 Great Recession could have morphed into the second Great Depression.

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