Last week --
Washington- The U.S. Treasury Department today announced that Thacher, Proffitt & Wood, LLP will assist the Department with its investments in the Federal Reserve's Term Asset Backed Securities Loan Facility authorized under the Emergency Economic Stabilization Act. Treasury awarded the contract for legal services on Wednesday, December 10.
Dec. 23 (Bloomberg) -- Thacher Proffitt & Wood, a 160-year- old New York-based law firm, will close down after the subprime crisis slashed demand for its structured-finance practice and more than half of its attorneys left for a competitor.
UPDATE: According to the Wall Street Journal, the Treasury contract walks with many attorneys to Chicago-based Sonnenschein Nath & Rosenthal LLP. That's quite a contracting procedure for as broad a lending program as the TALF.