Importance The article addresses the Troubled Asset Relief Program that was developed and implemented by the U.S. government to overcome negative impacts of the sub-prime mortgage crisis of 2008. It reviews the elements of organizational and economic mechanisms of the Program, i.e. principles, instruments, and interaction tools of parties involved. Objectives The study aims to investigate the U.S. experience in overcoming crisis and solving strategic tasks based on the program-oriented approach. Methods The paper rests on the analysis of relevant legislation and expert data, and the systematization of analytical information. Results The paper shows that the Program’s success was achieved owing to the consistent nature of its measures, strategic organizational structure of its development and implementation processes that implied multiple control and monitoring, high professionalism of its participants, as well as timely legal regulation of its initiatives. ConclusionsandRelevance Special-purpose programs based on systems approach are an efficient tool to solve the problems of socio-economic development. The analysis of the U.S. experience may be useful for improving the domestic theory and practice of government programs and budget reform.
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