Little about the Troubled Asset Relief Program has gone according to plan.

Its name reflects the government's original goal of buying lousy assets from banks to strengthen their balance sheets. But execution proved more difficult than design, so policymakers quickly changed course and simply bolstered the system by injecting capital directly into banks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.