The Department of the Treasury today released the testimony of Neel Kashkari, Interim Assistant Secretary for Financial Stability, before the Senate Committee on Banking, Housing and Urban Affairs. Mr. Kashkari oversees the Office of Financial Stability, which is responsible for implementing the Treasury's powers under the Emergency Economic Stabilization Act (Act), including the Troubled Asset Relief Program (TARP) and related programs. Mr. Kashkari's testimony provides important, up-to-date details on the Department's implementation of the Act and TARP, including information on the securities and whole-loan purchase processes, Capital Purchase Program, executive compensation standards, personnel appointments, and procurement.

Click here to read Mr. Kashkari's testimony.

For further information on the Emergency Economic Stabilization 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

Prior Alerts

Treasury, Federal Reserve, and FDIC Joint Statement Capital Purchase Program - October 14, 2008

Remarks on TARP to Institute of International Bankers - October 13, 2008

Emergency Economic Stabilization Act of 2008/TARP - October 7, 2008

Employee Benefits and Executive Compensation Issues Connected to Emergency Economic Stabilization Act of 2008 - October 6, 2008

Emergency Economic Stabilization Act of 2008 - October 6, 2008


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