TARP UPDATE: Troubled Assets Will Not be Purchased

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In remarks delivered by Treasury Secretary Paulson on November 12, 2008 providing an update on, and discussing the deployment of the remaining funds available under the Treasury?s Troubled Asset Relief Program (?TARP?), Mr. Paulson indicated that direct asset purchases under the TARP were unlikely as the Treasury had determined that at this time such purchases were not the most effective use of the remaining funds available under the TARP.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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