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On December 19, 2008, President Bush used his executive authority to declare that TARP funds could be spent on any program that Paulson, [20] deemed necessary to alleviate the 2008 financial crisis. On December 31, 2008, the Treasury issued a report reviewing Section 102, the Troubled Assets Insurance Financing Fund, also known as the "Asset ...
Aerial view of Phase II of the McCook Reservoir under construction in 2023. The Tunnel and Reservoir Plan (abbreviated TARP and more commonly known as the Deep Tunnel Project or the Chicago Deep Tunnel) is a large civil engineering project that aims to reduce flooding in the metropolitan Chicago area, and to reduce the harmful effects of flushing raw sewage into Lake Michigan by diverting ...
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On April 20, 2010, an offshore oil drilling rig, the Deepwater Horizon, exploded and burned off the coast of Louisiana in the Gulf of Mexico. [162] Dozens of workers fled the flames and were rescued by lifeboats and helicopters, however 11 were killed and 17 were injured in the incident. The rig burned for 36 hours before sinking.
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The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
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