Libor

Not pictured: Wall Street Journal.

[The article] lays it out. It gives motive, it gives you methodology, it reflects experts who think it’s valid. This is not the only piece. This article takes the same kind of approach that you have taken in this case.

I mean, frankly, I am totally puzzled, given that plaintiffs’ bar in this area uses the Wall Street Journal as their source of clients and cases, right? You guys read it every day, looking for scandal, right? Other people read People Magazine, but you read the Wall Street Journal.

– Judge Naomi Reice Buchwald (S.D.N.Y.), discussing inquiry notice of plaintiff’s claims with David Kovel of Kirby McInerney, counsel for plaintiffs in the Libor lawsuits, during Tuesday’s hearing.

(The article Judge Buchwald mentions ran in the Wall Street Journal in 2008 and raised serious questions about Libor’s integrity.)

* When thinking of the Penn State situation (the alleged cover-up, not Jerry Sandusky’s crimes), I am reminded of how critically important due process is to the proper administration of justice. You really notice due process when it’s gone. [The Volokh Conspiracy]

* I haven’t eaten at Chick-fil-A since college. No homo. [Fox News]

* It’s funny to think of law professors getting their pieces rejected by law reviews. Funny insofar as there are people who actually care about what ends up in a law review. [lawprofblog]

* I’m not inclined to believe things coming out of Nigeria, but if this is true, it’s crazy. [Gawker]

* The bright side of losing your job because of the LIBOR scandal. [Dealbreaker]

* Erwin Chemerinsky, Dean of the University of California Irvine School of Law, thinks that you can’t cut faculty salaries enough to achieve substantial reductions in tuition without losing your top faculty. But in this market, I bet a law school that said, “We hire only cheap professors and pass the savings on to you,” would have a lot of appeal. [National Law Journal]

* “I think this is destined to fail.” People are not happy with the proposed settlement plan for former Dewey partners, but who are they kidding? These people don’t exactly like to part with money — not even to hand out bonuses. [Am Law Daily (sub. req.)]

* Andrew Levander, a partner at Dechert LLP, is representing ex-Barclays chief executive Bob Diamond. Diamond hasn’t been charged with anything, but this white-collar defense lawyer’s apparently been on his side since 2010. [WSJ Law Blog]

* Money talks: lawyers and law firms are the top donors by industry to presidential campaign funds, with Kirkland & Ellis leading for Romney, and DLA Piper for Obama. [Capital Business Blog / Washington Post]

* Escándalo! Louis Freeh’s report revealed that PSU’s “seriously deficient” counsel billed a whopping 2.9 hours on an incident involving Jerry Sandusky’s locker room shower with a young boy. [Centre Daily Times]

* But here’s where the football chatter comes in (not that I know a lot about football): legal experts say Freeh threw an “incomplete” with this report, because it didn’t go far back enough in time. [New York Daily News]

* Sorry, lady, but you didn’t need to attend a Justin Bieber concert for his music to allegedly cause permanent damage to your ears to the tune of $9M. All you really needed to do was turn on the radio. [Chicago Tribune]