On October 3, 2008, the Emergency Economic Stabilization Act of 2008 (EESA) established the Troubled Asset Relief Program (TARP) in an effort to restore liquidity and stability to the U.S. financial system. Under the program, the Secretary of the Treasury, acting through a newly created Offi ce of Financial Stability, is authorized to purchase “troubled assets” from “any financial institution.” Troubled assets are defined as “residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages,” originated or issued on or before March 14, 2008, and “any other financial instruments that the Secretary… determines the purchase of which is necessary to promote financial market stability. Under this Capital Purchase Program (CPP), the Secretary may purchase troubled assets of any financial institution established and regulated in the U.S....