Emergency Economic Stabilization Act

Treasury Preventing Depression? EESA Watchdog Reports 

The Treasury’s actions under the Emergency Economic Stabilization Act, taken with other rescue measures, may help prevent the current financial crisis from triggering a 1930’s style financial and economic meltdown, according to the Financial Stability Oversight Board. “The actions taken by Treasury under the EESA provided critical support to the financial system during a period of market turbulence and weakening economic conditions,” says the Board in its quarterly report to Congress.