06.04.2020

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Webinars

Presented by the ABA White Collar Crime Sub-Committee on Public Corruption: What you can learn from TARP enforcement to help your company avoid COVID-19 relief investigations. 

On Thursday, June 4, 2020, we addressed lessons learned from the government investigations that followed the 2008 financial crisis, and what those lessons can teach us in the wake of recently passed COVID-19 stimulus legislation.

In 2008, Congress passed the Troubled Asset Relief Program (TARP), which awarded approximately $700 billion in stimulus funds to companies reeling from one of the greatest financial crises to strike the U.S. The TARP included oversight provisions, particularly the creation of a Special Inspector General at Treasury and a Congressional Oversight Panel. Numerous investigations and prosecutions relating to stimulus fraud resulted, some of which continue to this day.

The COVID-19 pandemic has the potential to present an even greater economic crisis for the U.S. When developing the recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which involves roughly $2 trillion in stimulus aid to businesses suffering from the effects of the COVID-19 pandemic, legislators looked to TARP for inspiration, including the incorporation of provisions for investigations and enforcement lifted almost verbatim from the TARP legislation.

In this webinar, two of the senior insiders who led TARP oversight efforts, Neil Barofsky, the former Special Inspector General for TARP, and Sara Hanks, the former General Counsel to the TARP Congressional Oversight Panel, will team up with Barak Cohen and Edward Kang, who served in the U.S. Department of Justice during the 2008 financial crisis.

Our panelists walked you through TARP oversight and how it informs and shapes the CARES Act, how TARP stimulus funds resulted in government enforcement, and recommended guidance for companies receiving COVID-19 stimulus dollars to mitigate their risk and exposure to investigations and enforcement that will inevitably follow.

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Enforcement and the Coronavirus Stimulus-Lessons and Predictions from TARP InsidersHow to Maximize Value at Companies with Challenged Capital Structures
Thursday, June 4, 2020
12:30 p.m. - 1:30 p.m. PT | 3:30 p.m. - 4:30 p.m. ET

 WEBINAR RECORDING

 

Moderator

Barak Cohen
Perkins Coie | Partner
White Collar & Investigations and Lead of the D.C. Litigation Group

Panelist

Neil Barofsky
Jenner & Block | Partner
Former Special Inspector General for Troubled Asset Relief Program (SIGTARP)

Sara Hanks
CrowdCheck | CEO
Former General Counsel of the Congressional Oversight Panel, the Overseer of the Troubled Asset Relief Program (TARP)

Edward Kang
Alston & Bird | Partner
Leader of White Collar, Government & Internal Investigations and Head of the D.C. Litigation Group