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Timothy Massad will join the US Treasury Department as Chief Counsel for the Troubled Assets Relief Programme.

David Bernstein is joining K&L Gates’ corporate practice in New York.

Michael Bradfield is leaving Jones Day to join the Federal Deposit Insurance Corporation as general counsel.

Former US Deputy Secretary of Commerce John Sullivan is joining Gibson Dunn & Crutcher in Washington DC.

Curtis Mallet-Prevost Colt & Mosle has hired three partners and two associates to its corporate practice in Frankfurt.

Andrew Tortoishell has gained a place on Hong Kong’s Takeovers and Mergers Panel, and its appeal committee.

Vietnamese authorities are finalising a draft law to amend several laws on investment and construction in Vietnam. The laws to be amended include the Investment Law, Enterprise Law, Land Law, Bidding Law, Construction Law, Environment Law and Fire Protection and Prevention Law, and the Law on Corporate Income Tax. The Government's purpose in all these proposed amendments is improving the investment conditions in Vietnam and formulating policies that will help Vietnam survive the global economic crisis. Set out below are some major changes that may affect how foreign investors do business in Vietnam.

China has frozen domestic IPOs to try and protect shares In a move that could pull down standards at the Shanghai and Shenzhen stock exchanges, the government has indicated that a new growth market could soon be introduced at Shenzhen.

Marzio Longo has been elected as Freshfields Bruckhaus Deringer's managing partner in Italy. Longo is the head of the firm's Italian real-estate practice and also focuses on M&A and contract law. He replaces Raffaele Lener on May 1, although Lener will remain co-managing partner for a transitional period.

Paul Krugman fills me with a sense of despair. The professor of Economics at Princeton University and Nobel-prize winner doesn't seem to understand structured finance. Yet he persists in shouting about it from his (very prominent) platform in The New York Times.