Mary Jo White? More like Mary Jo Green. President Obama’s pick to lead the Securities and Exchange Commission is deliciously rich, as revealed in her financial disclosures.
Although she’s barely five feet tall, making her a little litigatrix, Mary Jo White wears big shoes. In the words of my colleague Elie Mystal, a former Debevoise & Plimpton associate, she’s “one of those alpha dog partners…. the kind of partner that makes other partners stammer, shuffle papers, and try to look really busy and intelligent when she’s in the room.”
The sizable net worth of Mary Jo White shouldn’t surprise anyone. Not only is she a longtime Debevoise partner, but her husband, John W. White, has been a partner at Cravath, Swaine & Moore for more than 25 years (interrupted from 2006 through 2008 by a stint at the SEC, actually, where he served as Director of the Division of Corporation Finance).
It’s been so long since Obama lost something I was beginning to forget what it looked like.
In a reminder that just because the Senate is a dysfunctional band of elderly people doesn’t mean you can put them in a home and wait for them to die, the U.S. Court of Appeals for the D.C. Circuit knocked down some of the president’s recess appointments.
In January 2012, Obama made some recess appointments to the National Labor Relations Board when the Senate wasn’t really in recess. The D.C. Circuit today says that he can’t do that.
Which might, you know, throw out a year’s worth of NLRB work. And it might be bad precedent for the big recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau…
It looks like a silly marginal tax increase on the personal incomes of the top 2 percent is the last thing the barons of Wall Street need to worry about. President Obama is sending a new sheriff into the regulatory fray.
Dealbook reports that Obama will nominate former U.S. Attorney Mary Jo White to head the Securities and Exchange Commission. Sending in White to the SEC is a little bit like calling the Wolf to drive home your blood-soaked vehicle. It’s a bold move for an agency that is often overwhelmed by the impressive lawyers marshaled on behalf of the financial industry in defense of their most complex transactions.
Unlike Elizabeth Warren (bless her heart), Mary Jo White is no academic, she’s a hard-nosed litigator. And she might be exactly what the SEC needs…
* Wait, are we really going to have to debate the legal merits of this platinum coin thing? Really? Can’t Congress just not hold the country hostage so we don’t have to start messing around with crazy coins and the Fourteenth Amendment? Like, you don’t have to start doing bats**t crazy Carrie Mathison things if you don’t let terrorists take Nicholas Brody in the first place. [The Volokh Conspiracy]
* There was another school shooting today. It just makes you wonder if the terrible reign ushered in by Grand Theft Auto will ever end. At least, in this case, the teacher was armed to the teeth WITH WORDS to TALK DOWN the shooter. [Huffington Post]
* “Illegal” trades don’t mean the same thing to bankers as they do to everybody else. Well, that’s not true. Maybe the disconnect is more with the word “consequences.” [Dealbreaker]
* Yeah, I’m going to go on and say that I’m not going to believe anything coming out of the Trayvon Martin police report. Just like I wasn’t considering anything coming out of racist ass Mark Fuhrman. [Tampa Bay Times]
* There’s a lot to lose if Section 5 of the Voting Rights Act gets struck down. [Slate]
* I suppose it’s good that lawyers don’t have “I’m going to do a half-assed job here” fees. [Underdog]
* “To do nothing in the face of pending disaster is to be complicit. It’s time to act. It’s time to vote.” What a convenient time to discover that the Department of Justice tabled new gun control proposals in favor of an upcoming election campaign. [New York Times]
* Rumor has it that the president will nominate Senator John Kerry to be secretary of state for his second term. Upon hearing the news, Hillary Clinton updated her Tumblr page before she caught a case of the vapors, fainted, and got herself all concussed. [CNN]
* “If you don’t know, then you have to plan for the worst.” Everyone’s pissed off about the possibility of being pushed off the fiscal cliff, but on the bright side, it’s creating a mountain of billables. [National Law Journal]
* Remember the judge who resigned after he accidentally showed a colleague a picture of the “judicial penis”? He was removed from office by a judicial ethics panel. How very effective. [Seattle Post-Intelligencer]
* And for the talent portion of the competition, Alicia Guastaferro, the pageant princess who was picked up for prostitution after getting caught with an attorney, will have her hooking charges dropped. [Huffington Post]
* “The people who are paying us say this is what we want.” When it comes to cross-border mergers, law firms aren’t becoming behemoths for the hell of it. The end goal is to be able to edge out the rest of the competition. [Wall Street Journal (sub. req.)]
* It’s been six weeks since Hurricane Sandy hit the east coast, and “[e]verybody wants to go back downtown,” but some Biglaw firms in New York City — firms like Harris Beach and Cahill Gordon — are still stuck in their temporary offices. [New York Law Journal]
* Following Jeh Johnson’s adieu to the DoD, drone-loving Harold Koh will be packing up his office at the State Department and returning to Yale Law to resume his professorship next month. [WSJ Law Blog (sub. req.)]
* According to the Bureau of Labor Statistics, the legal sector is employing 5,800 more people than it was at this time last year. We’d be in good shape if 40,000 people hadn’t graduated law school in May. [Am Law Daily]
* Another day, another wrist slap: Villanova Law has been placed on probation for by the Association of American Law Schools over its grade-inflation scandal. Does that even mean anything? [Philadelphia Inquirer]
* The Lanier Law Firm, known for its spectacular Christmas parties, hosted some country superstars at this year’s event. Guess we know where Faith Hill and Tim McGraw go for legal assistance. [Houston Chronicle]
* A slim majority of American adults think that federal government employees should just sit back, relax, and smoke a bowl instead of enforcing federal laws against marijuana use. [FiveThirtyEight / New York Times]
* “I’m sorry they are confused in the White House.” Puerto Rico’s statehood referendum received a majority of votes, but lawmakers say the results of the two-part plebiscite are too confusing to add a 51st state. [CNN]
First amongst weird creation myths is that of the Mbombo god, who is said to have vomited up pretty much all of our world. Similarly, the story of how this website has been… thrown up is worthy of retelling. At its essence, it goes like this: A boy blogs about very sober legal issues in an incredibly earnest way and then the governor of New Jersey tells him to start Above the Law, The End. I may have missed some crucial details and got others flat-out wrong, but I think the kernel of truth is still in there somewhere.
At any rate, that boy was working for the United States Attorney’s office in Newark at the time. Doing anything on the internet, even if it was super-serious and incredibly sincere, could be considered controversial because of the position. The lawyers tasked with working in such a high-profile prosecutorial role must be seen as impartial, lest the cases they take on get tainted by their online presence.
Which is what makes it all the more surprising that history is repeating itself down in New Orleans, where two assistant United States attorneys have become embroiled in scandal after being caught commenting on not just the law in general (like our own dear leader), but the specific cases that came through their office.
It’s almost as if the New Orleans U.S. Attorney’s office is trying to outdo David Lat in some way. Which, I mean, trick please…
This Thanksgiving, five brilliant young lawyers will have something special to give thanks for. Earlier this month, they learned of their selection as the 2013 Bristow Fellows.
Bristow Fellowships, one-year fellowships in the U.S. Solicitor General’s Office, go to recent law school graduates with outstanding academic records and top clerkships. They are generally regarded as second only to Supreme Court clerkships in prestige — and often lead to SCOTUS clerkships as well. You can read more about the Bristow Fellowship, including the job responsibilities and application process, on the Justice Department website.
One of the newest Bristow Fellows is an Above the Law celebrity, whom many of you will recognize. Yes, that’s right — you can appear in the pages of ATL and go on to enjoy great career success in the law….
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.