As lawmakers and Bush administration officials head into the second day of negotiations on the $700 billion rescue proposal, one local firm has assembled its own team of experts to advise clients on what all of this means.
Gibson, Dunn & Crutcher has assembled a team of about 35 partners from across the firm to analyze information and provide the firm’s clients, many of whom are in the financial sector, information about what impact the financial crisis and the in-the-works rescue plan could have.
This financial markets crisis group will be coordinated by Michael Bopp, a partner in the firm’s Washington office. Bopp says the idea for the group came up last week as the government started to emphasize the seriousness of the crisis.
“As soon as the magnitude of the government’s response to the crisis became apparent, we realized that to better serve our clients we needed to pull together a deep bench of lawyers who could cover the gamut of issues our clients may have,” Bopp says.
The group, which was officially launched this week, brings together lawyers from a number of practice areas to bring a wide array of perspectives to the current economic situation.
Bopp described the group’s goal as that of “intelligence gathering” and “tailoring that information to each individual client’s needs.”
“It’s a big job to stay on top of these developments. There are a lot of people in Washington following pieces of what’s going on, but it takes a multidisciplinary law firm like Gibson, Dunn & Crutcher to stay on top of all the components of the rescue,” Bopp says.