The U.S. Treasury Department has set up a Web site for posting announcements and up-to-date information related to the Emergency Economic Stabilization Act of 2008 and the Troubled Asset Relief Program (TARP). Click here to go to the Web site and to sign up to receive legal alert updates from the Treasury on the act and the TARP.

Three solicitations by the Treasury Department for financial agents to provide services in connection with the implementation of the TARP have already been posted at the Web site.  The three services being sought are (1) Custodian, Accounting, Auction Management, and Other Infrastructure Services, (2) Securities Asset Management Services and (3) Whole Loan Asset Management Services.  All interested and eligible parties are required to submit requests by 5 p.m. (EDT) on Oct. 8, 2008.  The Treasury Department expects to announce the results of these solicitations next week.

For further information on the act, please contact:

    Dominic De Simone, Practice Leader, Commercial Real Estate Recovery
    Thomas Hauser, Business and Finance Department
    Alan Kaplinsky, Consumer Financial Services
    Vincent Marriott III, Bankruptcy, Reorganization and Capital Recovery Group
    Brian Pinheiro, Employee Benefits and Executive Compensation Group


The Financial Crisis and Federal Intervention

Ballard's Professional Personnel Committee is offering a CLE for Free session, "The Financial Crisis and Federal Intervention." The program will be held on October 22, 2008, from 8 to 10:15 a.m. in Ballard's Philadelphia office. For more information or to register, click here.


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This newsletter is a periodic publication of Ballard Spahr LLP and is intended to alert the recipients to new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer concerning your situation and specific legal questions you have.