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Simpson Thacher Advising U.S. on Acquiring Bank Ownership Stakes
The Treasury Department is relying on the law firm Simpson Thacher & Bartlett to help it boost the economy.
Simpson Thacher will advise the department on how to take ownership stakes in banks, a Treasury official said in a speech today.
Neel Kashkari, assistant secretary for financial stability, told an international banking group that hiring the law firm is one of several steps the United States is taking to quickly implement its bailout plan, report the Wall Street Journal (sub. req.) and the Associated Press. Kashkari is interim head of the $700 billion bailout program.
The Treasury Department is designing a standardized program to purchase equity in a broad array of financial institutions,… Continue reading...
