Ken Feinberg

Johnny Manziel (By: Thomas Campbell-USA TODAY Sports)

* Sad day for Jonathan Lee Riches. His lawsuit over Johnny Manziel’s penis has been thrown out of court. [Black Sports Online]

* Hot on the heels of yesterday’s item about SCOTUS porn parties, Professor Tribe guest blogs about his new book (affiliate link) and coercion, bribery, and influence. [The Volokh Conspiracy / Washington Post]

* Former Brooklyn DA and aspiring TV star Charles Hynes is staring down larceny accusations. [Gothamist]

* Texas basically assigns a cop to actively discourage investigate indigent parties seeking assigned counsel. [Socialist Gumshoe]

* The Supreme Court doesn’t like talking about patents — its opinions on the subject are getting shorter and shorter. [Patently-O]

* A lawyer is in hot water for allowing underaged drinking at a post prom party. The point was to keep the kids from driving. But no good deed goes unpunished. [Turn to 10]

* An interesting profile of one of my favorite professors, Ken Feinberg, labeling him “the lawyer who decides what a life is worth.” Yikes. [KDVR]

* The business strategy of just telling clients what they want to hear deflates. [Dealbreaker]

* Who says no one reads law reviews? The porn industry does and they really like this student Note. [XBiz]

* This is why we can’t have nice things. Second Circuit explains that if a revolving door agency of sycophants says it’s OK, it’s OK. Full opinion below…. [New York Times]

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Yesterday, after whining about law schools on NPR, I motored over to the Fox headquarters on Sixth Avenue. They wanted me on to to talk about a post I did a couple of weeks ago, encouraging oil-spill victims to take their BP money from the $20 billion fund being administered by Ken Feinberg, instead of pursuing private lawsuits against BP. For the debate, they brought on a plaintiff’s lawyer.

I thought it was a good segment, and I do believe the BP fund will be better for the victims (and the justice system) than a slew of plaintiff’s lawyers jumping on BP — and taking a sizable cut out of whatever damages a judge (most likely) reduces.

But a commenter noted something that a few people have told me privately:

Ellie [sic], I think you are on the brink of finally embracing the fallacy of prudential regulation and the idea that government or semi-government programs are ever going to be able to take care of someone who refuses to take the most basic steps of self-preservation. I saw you on Fox News and I bet you vote Republican this November.

I don’t think I was accessing my inner elephant. But check out the clip and tell me what you think…

double red triangle arrows Continue reading “Elie on Fox Business: Do I Sound Republican to You?”

As we mentioned this weekend, the BP oil spill has been capped (for the time being), and now we can fully focus on who needs to get paid. As with so many things, it’s Ken Feinberg’s world and we’re just living in it. Bloomberg reports:

Kenneth Feinberg, who is overseeing a $20 billion fund to pay damage claims from BP Plc’s oil spill, pledged to create a system “more generous and more beneficial” to spill victims than taking the company to court.

More generous than court? Ooohh, judicial system, Czar Feinberg is calling you out. You gonna just take that?

double red triangle arrows Continue reading “Ken Feinberg Offers Better Deals than Lawsuits”


In journalism, there are certain go-to stories that one writes around big events. At Halloween, everyone writes the “most popular costume” story. At Christmas, it’s the “most popular toy” story. At Thanksgiving, it’s the “how the community is giving back” story.

Over the last two years, a recurring event has been “the big bankruptcy.” And it seems that the journalistic go-to is the “how much are the greedy lawyers making off of this” story. We’ve seen it with the GM bankruptcy, the Tribune bankruptcy, and the Chrysler bankruptcy. Yesterday, the New York Times applied the story model to the Lehman bankruptcy, but they got pay czar Kenneth Feinberg to weigh in — and lay into the firms working on the case: Weil, Jones Day, and Milbank.

“It violates any sense of proportion,” says Kenneth Feinberg, the Washington lawyer who serves as the “pay czar” for banks bailed out by the government and whom the court appointed last June to monitor fees associated with the Lehman bankruptcy. The court asked him to participate after concerns were raised in the news media about the soaring fees in the Lehman case.

“Unemployment is over 9 percent, and to be paying first-year associates $500 an hour angers the public,” he observes. “People read about all of this and say that lawyers and the legal system are one more example of Wall Street out of control.”

The article outlines the fees that have outraged — tangential Nationwide Perk Watch: Weil attorneys get limo transport — and the new limits that have been placed on bankruptcy attorneys on the case. No first class for you!

double red triangle arrows Continue reading “Pay Czar Kenneth Feinberg Cracks Down on Bankruptcy Lawyers at Weil, Jones Day and Milbank”

Russia.jpgFriday was the last day for companies on the government dole to submit their pay plans to Kenneth Feinberg, our nation’s new Pay Czar. The new compensation commissar is as powerful as a mid-winter blizzard on the Eurasian Steppe. According to Law.com:

The Obama administration’s “pay czar” is embarking on a review of proposed compensation packages for the top employees at seven companies that are on government life support, marking the first time a federal official will have veto power over how much private-sector executives are compensated.

Kenneth Feinberg, who ran the government’s fund for families of the victims of the Sept. 11, 2001, terrorist attacks, has 60 days to approve or reject the compensation plans submitted this week from bailout recipients. They include American International Group Inc. and General Motors.

Can’t you just see a detail of Feinberg’s men assigned to follow Fritz Henderson (the new CEO of GM) during his training routine? One day maybe Fritz will outrun Feinberg’s men and climb to the top of a high peak and scream “Fein-BERG,” as he prepares for an epic final battle with Feinberg himself?

In the meantime, here are more reasons why being a lawyer right now is better than being a banker.

double red triangle arrows Continue reading “Хороший день, Comrade Pay Czar. Не снимите нас”