As Republicans continue to play chicken with the nation’s solvency, the idea that the president doesn’t need congressional approval to raise the debt ceiling is gaining traction. The thought bubble suggests that President Obama can raise the debt ceiling because of language in the Fourteenth Amendment stating that the nation’s debt “shall not be questioned.”
The idea has been trumpeted by none other than former president Bill Clinton. Clinton said that he would unilaterally raise the debt ceiling and “force the courts to stop me.”
Of course, President Clinton had what the scientists call “balls.” He knew how to handle a group of intractable Republicans more concerned with scoring political points than governing.
President Obama? The New York Times has his response: “I have talked to my lawyers. They are not persuaded that that is a winning argument.”
Can Aaron Sorkin please write a “Let Obama Be Obama” episode? Because sometimes Barack Obama really likes to dangle his feet in the water of whatever the hell it is he dangles his feet in, when he wants to make it look like he’s trying without pissing too many people off.
In any event, is invoking Section 4 of the Fourteenth Amendment a “winning” argument that could solve this debt crisis?
I think he’s done a terrible job with Organizing for America and for his base, and with the recognition of the people who worked for him. I frankly think the staff, the reelection staff, are incompetent fools.
– Willard Taylor, former partner (and current of counsel) at Sullivan & Cromwell, commenting to Politico on the reelection effort of President Barack Obama. Taylor served as a fundraiser for Obama’s 2008 presidential campaign.
If you want to run for president in this country, you best have quality legal counsel.
It doesn’t matter which party you are from. It doesn’t matter what your political platform is. It doesn’t matter if you believe Obamacare is exactly like your own health care plan or if you think marriage is a sacred vow shared by a man, a woman, and millions of viewers on The Bachelor. It turns out you still need competent legal counsel.
Biglaw legal counsel, as it happens. Check out the law firms that are advising the 2012 presidential candidates…
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.