Two more firms join our growing list of law firms that have formed groups (or task forces!) to respond to the current financial crisis and rescue.
Steptoe & Johnson announced on Friday that it has launched a Troubled Asset Task Force, which will “advise financial institutions, sellers and purchasers of assets, asset managers, and program managers on the recently passed Troubled Asset Relief Program (TARP) of the US Department of the Treasury.”
Patton Boggs announced on Wednesday of last week that it has established “a multi-disciplinary task force focused on guiding clients though the upheaval on Wall Street as well as the proposed $700 billion rescue plan on Capitol Hill.” The firm strongly emphasized that it was not forming
a new practice group because this is not ‘new’ for Patton Boggs,” said Charles Miller, deputy managing partner of the firm, who will head up the 30-member task force.
Navigating the intersection of politics and the turbulent financial markets is exactly the type of complex, multi-disciplinary situation in which the firm is often tapped to handle, Miller said.
The task force centralizes what the firm has already been doing.