Section 67 2009 to Date (New Section)

• Library: Business Transitions 2009 Supp

President Barack Obama, elected in November 2008 and intimately involved by a cooperative Bush Administration to help search for possible solutions since then, officially took office January 20, 2009. With a Democrat-controlled White House and Congress, it was widely expected that 2009 would include more massive government spending designed to stimulate the recovery of the economy and preservation of the financial system.

On January 2, 2009, the Treasury announced its Targeted Investment Program, which was designed to foster financial market stability and thereby strengthen the general economy. The $250 billion cost was to be covered by the remaining TARP funds authorized under EESA. Also announced that day were the Treasury’s Systematically Significant Failing Institutions Program and its Automotive Financing Program.

On January 15, 2009, the House proposed the American Recovery and Reinvestment Act of 2009 (ARRA), Pub. L. No. 111-5, 123 Stat. 115. After significant debate and some change, it became law February 17, 2009, with a promise of additional “economic stimulus” funds totaling $787 billion. That same day...