* “When the government takes action . . . there are legal limits to what they can do.” And one of those limits is that they can’t screw over any of the AIG shareholders, right, Maurice? [New York Times]
Occupy Wall Street
- Antitrust, Basketball, Celebrities, David Boies, Money, Morning Docket, Pregnancy / Paternity, Sports, Wall Street
So if the firms are waiting for a personal invitation to announce their 2011 bonus payments, they should feel free to RSVP to this post. We’re ready for the bonuses now.
The firms aren’t scared, are they? They’re not worried about Occupy Wall Street protesters objecting to mere five-figure bonus news, are they? Haven’t the Occupy people proven that they aren’t even paying attention to the Wall Street lawyers?
So let’s get on with the process of spreading the wealth around Biglaw….
- Drinking, Football, Intellectual Property, Non-Sequiturs, Pregnancy / Paternity, Sports, United Kingdom / Great Britain, Wall Street, Weddings, Women's Issues
* Using free beer to lure criminals into an arrest trap should be a violation of your right against self-incrimination. They should at least be able to drink it before the cuffs go on. [Legal Blog Watch]
Mayor Michael Bloomberg can have his way with the Occupy Wall Street protesters. According to the Associated Press, Justice Michael Stallman of New York Supreme Court just shot down the Temporary Restraining Order sought by the protesters against Mayor Bloomberg.
Let’s hope everybody keeps their cool.
The ruling on the TRO appears below…
November 15th, 2011, there was a riot in the streets, tell me where were you? While you were at home watching your T.V., I was participating in some anarchy.
Well, there wasn’t really a riot in the streets. And I wasn’t really participating in it so much as taking the 5 train to work today. But I did bump into some would-be Occupy Wall Street protesters looking to join the movement after the main group was evicted from Zuccotti Park under the cover of darkness early this morning. The people on the train asked for my legal advice.
I laughed — then told them I could do them one better. Let’s see if we can’t crowdsource a legal recourse for the Occupy protesters now that big bad Bloomberg has put his jackboot on the movement….
Many of you have heard about the beatings that took place at UC Berkeley’s Occupy Berkeley protests on Wednesday night. The police brutality wasn’t particularly brutal, so much as it was entirely uncalled for.
The Berkeley legal blog Nuts & Boalts sums up what should be the feeling of any person concerned about the laws of this country: “Regardless of how you feel about the Occupation, this behavior by police against unarmed, non-violent protestors is not only illegal, but is shameful.”
If you haven’t seen the video, it’s below. Just as disturbing as the actual footage is the facile message Berkeley Law students received before the event that was a warning that the police were going to be totally unreasonable about the situation….
- Defamation, Football, Harvard, Masturbation, Morning Docket, Pregnancy / Paternity, Sexual Harassment, Wall Street
* Sad and depressing old man news: Joe Paterno’s legal innocence was irrelevant. Instead of letting him retire at the end of the year, the Penn State Board of Trustees fired him last night. [New York Times]
- 3rd Circuit, Biglaw, Breasts, Hotties, Morning Docket, Pregnancy / Paternity, Ruth Bader Ginsburg, SCOTUS, Supreme Court, Unemployment, Wall Street
* Judge William Adams will not face charges over the beating of his daughter, Hillary Adams, due to the statute of limitations. At least he’ll still have public scrutiny and embarrassment. [Houston Chronicle]
There was more excitement in Oakland yesterday, as several thousand people enacted a citywide “general strike” and marched across town and “took over” the Port of Oakland. No one is exactly sure what those quoted phrases were supposed to mean, specifically, even though crowd estimates ranged from 3,000 to 40,000.
But one thing was for sure: the Occupy Oakland crowd wanted to make a ruckus. They wanted to disrupt the city’s business as usual. And they did. Lots of businesses closed for the day, including one of my favorite coffee shops. Embattled Oakland Mayor Jean Quan recommended city employees take the day off (excluding police, who did not appreciate the snub).
At least one Oakland law firm tried to keep its motor running, although building management locked the building down like a private tiger collection.
Let’s take a look at the official memo, courtesy of an anonymous tipster….
There’s an interesting post up on Constitutional Daily by The Philadelphia Lawyer. It’s a repack from a 2007 article arguing that salaries for first-year associates should go up to $190,000 a year.
And he’s right.
I know, I know — most Americans are still feeling the effects of a terrible economy. Occupy Wall Street is about to take pitchforks to those who are well-off in this country. Yada, yada, we’ll get back to the very sad story of America momentarily.
But you know who has done well over the last five years or so? Law firms. Especially Biglaw firms. Especially partners at Biglaw firms. Just look at the Am Law reports on profits per partner and revenue per lawyer. Firms are making money, more than they were in 2007.
Yet the associate salary scale hasn’t seen a raise for almost five years. And bonuses are down compared to 2007. Is it time for firms to start sharing the wealth?