Recovery Legislation Creates Both Opportunities and Risks for Government Contractors

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It is clear from the broad scope of the "Emergency Economic Stabilization Act of 2008," which was passed by Congress on October 3, 2008, that Treasury will need a lot of help implementing the requirements of the Act, including asset managers, servicers, property managers, expert consultants, and other similar service providers. While tremendous opportunities are presented by the Act for service providers with the requisite capabilities and resources to contract with Treasury, there are commensurate risks for anyone not experienced in contracting with the federal government. As demonstrated in other emergency or urgent situations such as Hurricane Katrina and the Iraq War where contractors rushed in without carefully considering the pitfalls in dealing with the government, missteps can and do result in not only financial, criminal, and civil liabilities, but also suspension and debarment from doing any contracting with the federal government.

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