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.