Two law firms to help U.S. Treasury dole out aid
WASHINGTON Nov 3 (Reuters) - Two law firms could be paid as much as $11 million to help the U.S. Treasury Department manage applications for its $700 billion financial services rescue plan.
Hughes Hubbard & Reed LLP and Squire Sanders & Dempsey LLP have each been awarded a contract for roughly $5.5 million to help shepherd about 2,000 financial firms through the program that would see the government buy company shares, the Treasury Department said on Monday.
The Treasury Department has said that roughly 1,800 publicly held institutions could qualify for the program as it is now constituted.
Privately-held banks could also qualify for aid and policy-makers are considering opening the program to insurance companies. (Reporting by Patrick Rucker; editing by Gary Crosse)
- Crunch time for Gaza truce talks as death toll passes 800 |
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- World's oldest joke traced back to 1900 BC
- French warplanes search Mali desert for crashed Air Algerie plane |
- Wreckage of Air Algerie plane carrying 116 people found in Mali |