Troubled Asset Relief Program strays from name

11/12/2008 | Financial Times (free content)

The U.S. government's Troubled Asset Relief Program appears to have morphed into a capital-injection program for banks as officials focus on investing directly into financial institutions and less on troubled assets. The evolution of TARP caused mortgage-backed securities to rally in late September, only to fall again. At a conference Monday, Neel Kashkari, the Treasury official heading TARP, did not address plans to purchase troubled assets and instead focused on capital injections for banks.

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