Goldman Sachs

* It’s fun to keep suing the Redskins over their racist nickname. It’s also fun to watch the Washington Football Club get the snot beat out of them. [ABA Journal]

* Legal aid… for inventor seeking venture capital. Everybody needs lawyers, folks. Nobody wants to pay for them. [San Jose Mercury News]

* Goldman picks and chooses which employees have their legal fees picked up by the firm. [New York Times]

* Judge Posner’s past pontifications on gay marriage, sans benchslaps. [Washington Blade]

* Harvard received the largest donation in its history. It wasn’t from me. [Business Insider]

* A nice review of David Lat’s book, Supreme Ambitions (affiliate link), by Judge Kopf. [Hercules and the Umpire]

* As football prepares to kick off, there’s a new filing opposing the renewal of the broadcast license for Dan Snyder’s Washington-area radio station because it has a tendency to broadcast a particular racial slur over and over throughout the NFL season. [Corporate Counsel]

* If you’re a young law grad ready to give up on being a lawyer, it’s harder to move into another industry than you’d think. [Law and More]

* Texas Attorney General Greg Abbott sought an emergency stay to allow Texas to start shutting down abortion clinics despite a ruling that the law was unconstitutional. So he filed his motion at midnight on the Sunday before Labor Day. The Fifth Circuit does not brook this tripe. [Houston Chronicle]

* New research confirms deportations don’t lower crime rates. They do, however, help drive up the BS in political ads, so that’s nice. [New York Times]

* The confusing reports that Goldman Sachs was driving aluminum around Detroit to drive up the price of aluminum spawned a lawsuit. And that led to a dismissal. [Bloomberg View]

* This is why you don’t eat underwear… [Daily Mail]

* The legal battle surrounding Adam Carolla’s podcast is breaking up friendships now. [CNN]

In-house legal jobs are growing in prestige. As our very own Mark Herrmann recently noted, in-house lawyers were once viewed as “the folks who couldn’t succeed at real jobs,” namely, jobs at firms. But that’s no longer true today, Herrmann argued, citing the trend of Biglaw partners leaving their firms for gigs as corporate counsel.

What is behind the growing allure of in-house jobs? Sure, the work is interesting and exciting, and yes, bossing around outside counsel is fun. But improving pay packages also play a role. As you can see from the rankings of America’s best-paid general counsel, GCs at top companies can take home millions.

And those rankings, by Corporate Counsel, focus on cash compensation. In-house lawyers can make many multiples of their cash comp through stock.

Take Vijaya Gadde, Twitter’s general counsel. She became GC less than a year ago, but she already owns tens of millions in TWTR shares, as revealed in recent reporting about the end of Twitter’s IPO lockup period….

double red triangle arrows Continue reading “Just How Rich Is Twitter’s General Counsel?”

192 Columbia Heights

What happens to people who work for failed law firms? Some of them wind up filing for personal bankruptcy.

But some of them experience far happier endings. Some of them wind up living in 25-foot-wide, 8,000-square-foot, $16 million townhouses.

Okay, a caveat: $16 million is what the owners are asking for their home. It’s not clear they’ll get that price, which would set a record for a single family home in Brooklyn Heights.

No matter which way you slice it, though, this is still an eight-figure home. Who’s the lawyer living in such luxury, and where did she once work?

double red triangle arrows Continue reading “Lawyerly Lairs: A $16 Million Brooklyn Brownstone”

Surprisingly this lawyer isn’t named “Captain Obvious.”

He’s James Kidney, an SEC Enforcement lawyer who joined the agency in 1986 and served there ever since with a four-year detour to work at Aetna. At his well-attended (about 70 people) retirement party, he fulfilled the dream of every retiring employee and called out the B.S. he’d witnessed in his years on the job. And at the SEC, that B.S. dealt mostly with a revolving door culture of fearful superiors more interested in harassing low-level offenders while turning a blind eye to anyone with responsibility on Wall Street.

This must have been an awesome party.

What else did he say?

double red triangle arrows Continue reading “SEC Lawyer Uses Retirement Party To Call Out Agency As A Bunch Of Timid Wusses”

* The shutdown has shuttered the Nuclear Regulatory Commission. I’m not really comfortable living without those regulators. [Breaking Energy]

* Don’t bother Goldman Sachs’s general counsel with your silly little questions. [Dealbreaker]

* The decisions you make in your twenties are rarely life-threatening. So get out there and make some atrocious life-decisions, kids! [Legal Cheek]

* Lawyer sent to prison for plotting to help a client hide jewels. That sounds way dirtier than it is. [ABA Journal]

* In scary news, Adrian Peterson’s 2-year-old son was brutally beaten. [TMZ]

* In case you missed our round-up, here are ten more highlights from a recent interview with Justice Scalia. He’s apparently a big Duck Dynasty fan, which explains a lot. Video embedded after the jump… [Bloomberg Law via YouTube]

double red triangle arrows Continue reading “Non-Sequiturs: 10.11.13″

I mean suing the bejeezus out of Goldman Sachs. And likely a number of other high-profile financial players.

Not over something mundane like the whole “taking part in collapsing the global economy” thing. That’s been discussed to death. I’m talking about something much more concrete and, apparently, easy to establish.

People sometimes derisively call bankers pirates, but it turns out they may be right. Software pirates, at least.

In this month’s issue of Vanity Fair, Michael Lewis looks at the prosecution of former Goldman Sachs programmer Sergey Aleynikov. In addition to detailing the outsized influence large banks have over the justice system and the ease with which the system can break down when the facts of a case are too complex for lay jurors, Lewis uncovers a small nugget that he doesn’t really pursue, but that could be trouble for Wall Street….

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Fabrice Tourre

At the end of the day, he probably could have done the right thing. But he chose to play the game. It didn’t leave me feeling good about Wall Street.

– Evelyn Linares, a 61-year-old principal who served as a juror in the Fabrice Tourre civil fraud trial, sharing her feelings about Fabulous Fab — he “disappointed” her — after the verdict was announced.

Professor Nina Pillard

* It’s just business as usual: Amid accusations of liberal court-packing, D.C. Circuit nominee Nina Pillard faced questions on abortion and religion during her testimony before the Senate Judiciary Committee. [USA Today]

* Biglaw isn’t as dead as we’ve been told and made to believe. Some of the largest firms are actually doing quite well, says American Lawyer’s editor-in-chief, who’d like her job to retain some meaning for now. [Am Law Daily]

* Fried Frank knew that it’d take a banker to pull the firm from its monetary funk, so it picked up David Greenwald, deputy general counsel of Goldman Sachs, to act as co-chair through 2015. [New York Law Journal]

* With the change in SEC policy, from allowing companies to use neither-admit-nor-deny language, to forcing them to admit guilt in “egregious” cases, lawyers may soon be very busy. [Corporate Counsel]

* Raj Rajaratnam is a firm believer in the “three strikes and you’re out” theory of law. A month after the Second Circuit affirmed his insider trading conviction, he’s asking for a rehearing en banc. [Bloomberg]

If you are black in America, you are not supposed to fight back. Ever. For any reason. Sorry.

If you are white, you can do whatever you want, and if you are Hispanic, you can defend yourself as long as you are defending yourself against a black man. But if you are black, you just need to sit there and take it. Or else you’ll get in trouble. You’ll get shot or arrested. The full force of the police state will be brought down upon you.

That’s the lesson from this weekend. George Zimmerman’s acquittal has gotten all the attention (and I’ve said all I need to say about that), but in New York City this weekend there was another story about the casual, every day, racist junk that black people have to deal with all the time. But this time the black guy defended himself and so, of course, the black guy got arrested…

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