The thing is that when you run a brokerage company and it goes and loses $1bn of customer money, the CFTC really ought to charge you with “fail[ing] to supervise diligently the activities of [your] officers, employees, and agents,” no? At least? There are various views of Jon Corzine’s role in MF Global’s efforts to misplace a billion dollars – did he intentionally misuse customer funds? was he aggressive but above-board? just confused? – but no one is going around saying “oh, yeah, Corzine was really on the ball there protecting customer money.” You’re just irreducibly not supposed to lose a billion dollars in customer money, and if you do, “failure to supervise diligently” is pretty much the kindest possible description…
* It must stink to be out $150 trillion dollars thanks to MF Global. Not as much as it stinks being bats**t crazy, but still. [Dealbreaker]
* Here’s another way of rating the effectiveness of law professors that has nothing to do with whether or not they are good at being law professors. [Tax Prof Blog]
* Sports agent who seems to be a professional defendant. [Sports Money / Forbes]
* Debt, but no degree, sounds tough. But it’s not always worse than more debt with a useless degree. [Washington Post]
* Romney embraces a birther. [ABC News]
* This is a beautiful day to live in Manhattan. [Hayden Planetarium]
- American Bar Association / ABA, Biglaw, Billable Hours, Christopher Christie, Law Schools, Money, Morning Docket, Murder, New Jersey, Prostitution, Southern New England School of Law/Umass
* The harsh realities of post-recession practice: will Biglaw leaders have to resort to alternative billing practices in order to survive? Well, they better, or else they’re “not going to have a law firm for very long.” [Washington Post]
* I don’t think “secret service” means what you think it means. Listen up, agents, prostitution might be legal in much of Columbia, but it makes America look bad when you can’t afford a $47 hooker. [New York Post]
* Jessica Recksiedler, the judge assigned to oversee George Zimmerman’s case, may have a conflict of interest thanks to her husband. Somebody’s getting banished from the bedroom this week. [Bloomberg]
* Law firms with ties to New Jersey Governor Chris Christie have seen record profits compared to their take under Jon Corzine’s rule. That said, even if he called them “idiots,” it was totally worth it. [Star-Ledger]
* UMass Law is being reviewed for accreditation by the American Bar Association, and opponents are throwing some major shade. As if Dean Ward’s scandalous resignation wasn’t enough. [South Coast Today]
* Is this house haunted as a matter of law? That’s what this New Jersey couple is hoping that a judge will say about their rental home. Hey, it wouldn’t be the first time it’s happened in the tri-state area. [ABC News]
- American Bar Association / ABA, Federal Judges, Law Schools, Money, Morning Docket, Police, Student Loans
* Law school debt increased by $475M between 2008 and 2010. Grab a raincoat, because this bubble’s going to burst soon, and it’s not going to be pretty (except for Cooley Law; they’ll be rich). [Am Law Daily]
* UC Berkeley: “We never like to hurt our students.” Yeah, apparently that’s what the police are for. Occupy Berkeley protesters are suing the school over police brutality allegations. [Huffington Post]
Anything else we can help you with today?
UPDATE (10:50 AM): Remember the NJ woman who passed out cold in the middle of the test? Find out if she passed, after the jump.
I mean, probably not, but when you are primarily responsible for losing millions and millions of dollars, I suppose anything is possible. And remember Jon Corzine does have a documented case of test-taking anxiety. For all we know, MF Global’s money and the New Jersey bar exams are sitting in a basement somewhere being guarded by Real Housewives who can kill you with the piercing sound of their voices.
It sounds farcical, but something is going on with the New Jersey Bar Exam. The New York results came out weeks ago. Yet we’ve heard nothing from Jersey about their bar results, which generally come out around the same time.
And now New Jersey has gone radio silent. There are no results on their website. We left voicemails with two officials at the New Jersey Board of Law Examiners this afternoon, but they have not returned our calls.
My Corzine theory might be off the wall, but others have some more credible thoughts on why there’s been a delay from the Garden State….
- Barack Obama, Department of Justice, Elena Kagan, Federal Government, Intellectual Property, Kathleen Sullivan, Office of Legal Counsel, Politics, Securities and Exchange Commission, Solicitor General's Office
New lawyers to lead the nation are sending in their résumés. Already, UC Berkeley School of Law Dean Christopher Edley has received a choice position as part of Obama’s transition advisory board. (I wonder if he’s accepting resumes from his students?)
Here’s an interesting choice for Edley and the rest of the transition team that will be picking the next Solicitor General. According to the Legal Times:
No woman has ever served as solicitor general, but a number have been mentioned as candidates for the job in an Obama administration. Stanford Law School professors Kathleen Sullivan and Pamela Karlan and Harvard Law School Dean Elena Kagan are possibilities, as well as Morrison & Foerster partner Beth Brinkmann and MetLife litigation counsel Teresa Wynn Roseborough.
They could also be considered to lead of the Justice Department’s Office of Legal Counsel, which produces legal opinions on complex matters for the attorney general and the president. Lawyers who have held both positions have gone on to become Supreme Court justices. Chief Justice Charles Evans Hughes and Justices Stanley Reed and Thurgood Marshall were solicitors general. The late Chief Justice William Rehnquist and current Justice Antonin Scalia once headed the Office of Legal Counsel. That experience could come in handy should one or more Supreme Court justices step down in the next four years.
Speculation has also centered on prominent African-American attorneys who may be ready to step forward:
Valerie Jarrett (Stanford, Michigan Law): Jarrett is a longtime Obama adviser, who’s now one of three people heading his transition team. She told the WSJ that blacks won’t be pigeonholed into “historically conventional” roles, such as secretary of housing and urban development or assistant attorney general for civil rights.
Other high profile positions after the jump.