Davis Polk and Wardwell has published a very useful and timely memo analyzing the implications of the Emergency Economic Stabilization Act of 2008 (EESA). In particular, the memo examines the implications of plans to inject $250 billion of capital directly into the US banking system, to guarantee the short-term debt of most US banks and thrifts, and to eliminate FDIC insurance limits for noninterest bearing accounts. The memo also takes a look at the government's evolving response to the financial crisis.
The Davis Polk piece contains excellent summaries and analysis of key aspects of the EESA and recent government actions, including, the Troubled Asset Relief Program and its implementation, senior executive compensation restrictions, the regional bank program, the FDIC liquidity guarantee, the lifting of FDIC insurance limits, and other recent developments.
The full text of the Davis Polk memo is available here: http://www.dpw.com/1485409/clientmemos/EESA.US.Gov.Cap.Injts.pdf
The Davis Polk piece contains excellent summaries and analysis of key aspects of the EESA and recent government actions, including, the Troubled Asset Relief Program and its implementation, senior executive compensation restrictions, the regional bank program, the FDIC liquidity guarantee, the lifting of FDIC insurance limits, and other recent developments.
The full text of the Davis Polk memo is available here: http://www.dpw.com/1485409/clientmemos/EESA.US.Gov.Cap.Injts.pdf
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