Social and Behavioral Sciences Commons^™

Lessons Learned: Timothy Massad, Yasemin Esmen

Journal of Financial Crises

Timothy Massad was assistant secretary for financial stability at the US Department of the Treasury between 2009 and 2014. He oversaw the $700 billion Troubled Assets Relief Program (TARP), which was passed by Congress in October 2008 to enable the Treasury to buy assets of and invest in banks and companies to stem the financial crisis. Massad was involved in the implementation of TARP as well as its winding down; it ultimately invested $439 billion. This “Lessons Learned” is based on a phone interview with Mr. Massad.

Lessons Learned: Jason Furman, Mercedes Cardona

Journal of Financial Crises

Jason Furman was a top economic adviser to the successful presidential campaign of Barack Obama in 2008. He played a key role in most of President Obama’s major economic policies during and in the aftermath of the Global Financial Crisis of 2007–09. Furman, who had served at both the Council of Economic Advisers and National Economic Council during the Clinton administration, served as Chairman of the Council of Economic Advisers from August 2013 to January 2017, acting as President Obama’s chief economist and a member of the cabinet. He is currently Professor of the Practice of Economic Policy at the …

Comment Letters May Have Helped Shape Federal Reserve’S Municipal Liquidity Facility (Mlf) And Main Street Lending Program (Mslp), Steven Kelly

Journal of Financial Crises

YPFS Archive Notes highlight noteworthy content or additions to the YPFS Resource Library.

In support of the YPFS efforts to archive primary and secondary materials that shed light on financial crises, this YPFS Archive Note highlights the addition of public comment letters solicited by the Federal Reserve to evaluate two of its proposed emergency lending facilities, the Municipal Liquidity Facility (MLF) and the Main Street Lending Program (MSLP) designed to help the US economy endure the financial stresses caused by the coronavirus pandemic. The released correspondence reflects a wide array of congressional and stakeholder concerns. Ultimately, the Fed incorporated …