Top 10 Financial Crisis Buzzwords
From Naked Shorts to TED Spreads, a quick primer on the jargon that has emerged from this recent financial crisis
Definition: Troubled Asset Relief Program, the government's term for the Wall Street bailout bill. The term was first coined by Treasury Secretary Henry Paulson. The $700 billion bill passed the Senate Oct. 1, the House Oct. 3, and was signed by President Bush that same day.
Usage: "The point is that TARP is the only plan on the table that has both a reasonable chance of political success and a reasonable chance of economic success." (Washington Post, Oct. 2, 2008)
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