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

Copyright © 2008 by Ballard Spahr LLP.
(No claim to original U.S. government material.)

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.

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.