The Troubled Asset Relief Program, or TARP, was a financial rescue plan initiated by the U.S. government in 2008 during the financial crisis. Its primary goal was to stabilize the economy by purchasing distressed assets, particularly from banks, to restore confidence in the financial system. TARP allocated $700 billion to help banks and other financial institutions recover from significant losses. By providing these funds, the program aimed to prevent further economic decline and protect jobs. Ultimately, TARP helped to stabilize the banking sector and laid the groundwork for economic recovery in the following years.