Why did many Americans criticize the Troubled Asset Relief Program?
Answers
The American Asset Relief Program helped those who had caused the economic crisis. It allowed the federal US government to buy stressed assets from sick firms. These firms were the cause of this crisis because of their inefficient functioning. They took worse financial decisions which were running into losses and creating stressed assets.
Troubled Asset Relief Program was highly criticized by the Americans due to vast financial structure of the program which was not completely understood and thus was highly in debate for the purpose issue.
Explanation:
It was on whole criticized because of the evidential fact that the beneficiaries were directly those people who were involved in sowing the actual seed for the crisis financially.
It was sanctioned in October 2008 for an estimated budget of around $ seven hundred billion and rendered at the end with loss considering the inflation rate for about $ four hundred billion approximately as covered under reduced program schematics.