The ability of the Transition Region and Coronal Explorer (TRACE) to image the Sun at high spatial resolution and high cadence over a very broad range of temperatures makes it a unique instrument for observing solar flare plasma. TRACE observations have confirmed the reconnection model for solar flares, at least qualitatively. TRACE flare observations show impulsive footpoint brightenings that are followed by the formation of high-temperature loops in the corona. These loops then cool to lower temperatures, forming post-flare loop arcades. Comparisons between TRACE and lower spatial resolution Yohkoh Soft X-Ray Telescope (SXT) observations have revealed that solar flares are composed of a multitude of fine coronal loops. Detailed hydrodynamic modeling of flare light curves shows that this fine scale structuring is crucial to understanding the evolution of the observed emission. Models based on single, isothermal loops are not consistent with the TRACE observations. Models based on the sequential heating of small-scale loops, in contrast, are able to reproduce many of the salient features of the observed light curves. We will discuss the implication of these results for more energetic stellar flares as well as smaller-scale events that may be responsible for the heating of solar active region loops.