Word of the Day: TARP
TARP: A Word with Multiple Meanings In layman's terms, a tarp is a piece of material used to cover and protect exposed objects or areas. Here you see how my family employs a tarp to protect us from the elements during a camping trip. In the current language of American economics, TARP is the acronym for the federal government's Troubled Asset Relief Program, led by the brilliant investment banker, Henry Paulson, who now serves as the nation's Treasury Secretary. TARP is the Fed's attempt to protect the nation from the collapse of our economy. TARP is also a shifting landscape – in a statement today, Paulson announced changes in how he wants to invest those billions of TARP-assigned tax dollars. He's decided that purchasing illiquid mortgage-related assets is no longer "the most effective way to use TARP funds." He's now looking at shoring up the consumer credit market (because consumers need more debt in their lives) and "exploring ...