Treasury Offers $11M ‘Bailout Love’ to Hughes Hubbard and Squire Sanders

Economic crisis has brought big-bucks government contracts to two well-known law firms.

Hughes Hubbard & Reed and Squire Sanders & Dempsey have each been awarded $5.5 million contracts to help approximately 2,000 financial firms apply for a share of the money being spent by the U.S. Treasury Department under a federal bailout plan expected to cost taxpayers some $750 billion, reports Reuters.

Termed "bailout love" by the Above the Law blog, the government contracts with the law firms are linked to an AmLaw daily post about the Treasury largesse.