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Financial Crisis Fallout: Leislative and Reulator Action
Prepared for the Third Circuit Judicial Conference
Donald S. BernsteinDavis Polk & WardwellApril 2009
 
Financial Crisis Fallout: Legislative and Regulatory Action
Federal Assistance Initiatives
Current Legislative Proposals
On the Horizon: Possible Upcoming Initiatives
2
 
Overview of Troubled Assets Relief Program (TARP)
Approved by Congress in October 2008, the Emergency EconomicStabilization Act authorized Treasury access to $700 Bn
The first $350 Bn of the funds (
TARP I
) were released to the Bush administration in October 2008
The remaining $350 Bn (
TARP II
) were released to the Obama administration in January 2009
programs ncue:
The Capital Purchase Program (
CPP
)
TheSstematicallSinificantFailinInstitutionsProram
SSFIP
usedforAIG 
 
The Targeted Investment Program (
TIP
), used for Citigroup and Bank of America
The Automotive Industry Financing Program, used for General Motors and Chrysler
The Term Asset-Backed Lending Facility (
TALF
), done in conjunction with the New York FederalReserve
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