Hughes Hubbard and Squire Sanders will get the big bailout bucks

The latest bailout news is making Simpson Thacher’s $300,000 contract to advise the Treasury Department on the $700 billion bailout plan look even more like chump change.

We wrote before about firms that were offered bailout love. Well, Reuters reports that Hughes Hubbard and Squire Sanders are going to get mad bailout love, to the tune of $11 million:

Hughes Hubbard & Reed LLP and Squire Sanders & Dempsey LLP have each been awarded a contract for roughly $5.5 million to help shepherd about 2,000 financial firms through the program that would see the government buy company shares, the Treasury Department said on Monday.

Looks like Hughes Hubbard’s strategizing with the acquisition of boutique bankruptcy firm Luskin, Stern & Eisler may have paid off.

Two law firms to help U.S. Treasury dole out aid [Reuters]

The End of Bailout Transparency Already? [BailoutSleuth via WSJ Law Blog]

Earlier: The Firms That Were Offered Bailout Love

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Musical Chairs: Hughes Hubbard Is Ready For Some Action

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