The Troubled Asset Relief Program (TARP) was a financial rescue initiative established 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 and financial institutions, to restore confidence in the financial system. TARP allocated $700 billion to help banks and other companies that were struggling due to the collapse of the housing market and the resulting economic downturn. The program aimed to prevent further economic decline and protect jobs, ultimately leading to the recovery of the U.S. economy.