January 21, 2010

Calo Quoted on TARP Funded Financial Institutions

Lane Powell Shareholder Bob Calo was quoted in an article titled “Some See 2010 as the Year of Financial Crisis-Related Criminal Prosecutions,” on FinCriAdvisor.com, a website dedicated to guiding financial institutions through the crisis.  In the article, Calo discussed the way financial institutions that received funding from the Troubled Asset Relief Program (“TARP”) will be affected by increased funding for federal investigators in 2010.

Calo said, “The current trend almost everywhere is to prosecute the individual, more so today than prosecuting the corporations.” Calo also noted that SIGTARP is well-funded and “under intense public and Congressional scrutiny to show results, which in law enforcement is measured by number of investigations and prosecutions.”