TARP decision increases market turmoil
| Source: | Inside Business |
|---|---|
| Published: | Sunday, November 23, 2008 9:26 AEDT |
| Expires: | Saturday, February 21, 2009 9:26 AEDT |
US Treasury Secretary, Hank Paulson, announced on November 12 that he would no longer spend the $700 billion given to him by Congress under the Temporary Asset Relief Programme (TARP) on buying mortgage securities. As the implications of that decision sank in, the market prices of mortgage securities in the US crashed and the Australian market followed closely behind.
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ABC News Online takes a look at the big stories from 2008.
