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ARTICLE · 08 OCTOBER 2008

Contracting For The Troubled Assets Relief Program: Working With Treasury

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The “Emergency Economic Stabilization Act of 2008” (the “Act”) that was enacted last week creates a program known as the “Troubled Asset Relief Program” or “TARP,” which allows “financial institutions” to sell certain “troubled assets” to the US Treasury.

United StatesFinance and Banking
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Article by Marcia G. Madsen , Charles M. Horn , Jeffrey P. Taft and David F. Dowd

Originally published October 7, 2008

Keywords: Emergency Economic Stabilization Act, TARP, asset managers, troubled assets, Federal Acquisition Regulations, fiduciary duties, conflict of interest,

The "Emergency Economic Stabilization Act of 2008" (the "Act") that was enacted last week creates a program known as the "Troubled Asset Relief Program" or "TARP," which allows "financial institutions" to sell certain "troubled assets" to the US Treasury. On October 6, 2008, Treasury issued a notice that briefly describes the process it will follow to select "asset managers" for different types of troubled assets covered by the Act. Treasury also issued three solicitations for "asset management" and "custodian" services. Interested parties must respond to the solicitation(s) by 5:00 p.m. on October 8, 2008.

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