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&lt;p&gt;On the verge of a second consecutive&amp;nbsp;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&amp;#8220;Uncle Sam to the Rescue&amp;#8221; weekend, an interesting detail&amp;nbsp;emerged in&amp;nbsp; &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;The Legal Times&lt;/i&gt;&amp;nbsp;&lt;/i&gt;yesterday regarding&amp;nbsp; Wachtell&amp;#8217;s work&amp;#8212;&amp;#8220;endless term sheets, and almost endless drafts&amp;#8221; &amp;#8212;in putting together the U.S. Treasury&amp;#8217;s bailout plan for Fannie and Freddie:&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; t&lt;/span&gt;he firm worked &lt;em&gt;pro bono&lt;/em&gt;.&amp;nbsp;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Wachtell&#39;s lead partner on the matter,&amp;nbsp;Harold Novikoff , told the &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;The Legal Times&lt;/i&gt;, &amp;#8220;We believe the matter to be of supreme importance to the nation and the capital markets. Therefore, we were pleased and privileged to assist the United States Treasury.&amp;#8221;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;/p&gt;&lt;p&gt;Wachtell&amp;#8217;s 2008 list of the beneficiaries of its pro bono practice (sub req&amp;#8217;d) includes, among others, a Tibetan nun, indigent criminal defendants, and public radio. Next year will the firm add the &amp;#8220;U.S Treasury&amp;#8221; (or &amp;#8220;The American People&amp;#8221;) to the list?&lt;/p&gt;&lt;p&gt;(Not everyone is grateful: &lt;?xml:namespace prefix=&quot;st1&quot; ns=&quot;urn:schemas-microsoft-com:office:smarttags&quot;?&gt;&lt;st1:street w:st=&quot;on&quot;&gt;&lt;st1:address w:st=&quot;on&quot;&gt;one &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Wall Street&lt;/i&gt;&lt;/st1:address&gt;&lt;/st1:street&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt; Journal&lt;/i&gt; editorial describes the bailout deal as&amp;nbsp;&quot;&quot;)&lt;/p&gt;&lt;p&gt;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;-posted by brian&lt;/p&gt;

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A big freebie

On the verge of a second consecutive  “Uncle Sam to the Rescue” weekend, an interesting detail emerged in  The Legal Times yesterday regarding  Wachtell’s work—“endless term sheets, and almost endless drafts” —in putting together the U.S. Treasury’s bailout plan for Fannie and Freddie:  the firm worked pro bono.

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