Wall Street
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Bernie Madoff, Quote of the Day, Wall Street
Quote of the Day: Looking the Other Way
They had to know. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’ — Bernard Madoff, speaking about the banks and hedge funds that invested in his Ponzi scheme, in his first for-publication interview since his December 2008 arrest (via Dealbreaker). -
Deaths, Non-Sequiturs, Politics, Suicide, Wall Street
Non-Sequiturs: 01.27.11
* An interesting interview with Professor Benjamin H. Barton about his new book, The Lawyer-Judge Bias in the American Legal System, which demonstrates what many laypeople suspect: namely, that the legal system is rigged to benefit lawyers over the public. Professors Barton and Reynolds discuss why this might be the case and also compare the […] - Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Biglaw, FCC, JPMorgan Chase, Partner Issues, R. Ted Cruz, Television, Wall Street, Yul Kwon
Musical Chairs: Legal Celebrities on the Move(Including the energy lawyers going from MWE to CWT.)
A new year, a new job. That seems to be the thinking of many within the legal profession, based on the proliferation of professional moves we have to report (and not just out of Howrey). We’ll start with one move that’s aspirational rather than actual. Legal and political superstar Ted Cruz — the Morgan Lewis […]
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Clerkships, Department of Justice, Federal Government, Money, Salary Freeze, Wall Street
Federal Lawyers: Hope You'll Still Enjoy Your 2010 Salary in 2012
There was a time in this country where the holiday season was a time to be rewarded for a good year of work. People received bonuses. People received pay raises, so their salaries could keep pace with their growing experience and maturity (or at least keep up with inflation). The America where that kind of […] -
Department of Justice, New York Times, Sandra Day O'Connor, Supreme Court Clerks, Vanderbilt, Wall Street, Weddings
Legal Eagle Wedding Watch: Buffeted
People, here at LEWW we hate reality TV. Really, really, really hate it. It makes us feel bored, uncomfortable, and grossed-out by humanity, all at the same time. We can watch sports, which we suppose is “reality” in some sense, but other non-scripted programming sends us lunging for the remote. Dancing with the Stars? Gagging […] -
Law Firm Mergers, Non-Sequiturs, Robert Wone, Thompson & Knight, Wall Street, Women's Issues
Non-Sequiturs: 10.01.10
* Orrick and Akin aren’t the only two who are talking. The firms of Reed Smith and Thompson & Knight are also in merger discussions. [Am Law Daily] * A “cite-checking battle” actually sounds… kinda fun. [Laws for Attorneys] * There’s a motion for leave to amend the complaint in the Robert Wone civil case. […] -
Non-Sequiturs, Suicide, Wall Street
Non-Sequiturs: 09.29.10
* The 9/11 health care bill finally passed the House. Too bad. Not about the bill, the bill looks good. I was just kind of hoping for another epic meltdown from Anthony Weiner. [Salon] * Could an MBA be even more worthless than a J.D.? [Out of the Storm] * Real Wall Street types opine […] -
Movies, Wall Street
What's the Latham Billing Code for 'Chilin' With Oliver Stone'?
You have to hand it to the people at Latham & Watkins. Former employees can bitch and moan all they want about being laid-off, but the firm has a certain kind of “star quality.” Take this story from this month’s American Lawyer. It turns out that when Oliver Stone needed to figure out what was […] - Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get… -
Feminism, Gender, Goldman Sachs, Wall Street, Women's Issues
Goldman Sachs Accused of Sex Discrimination
The fantastically successful firm of Goldman Sachs isn’t just “a great vampire squid wrapped around the face of humanity.” It also discriminates against women, according to the allegations in a lawsuit filed earlier today. Three female ex-employees of Goldman Sachs accuse the venerable bank of maintaining an “outdated corporate culture” that discriminates against women in […] -
Money, Partner Issues, Wall Street
Opulence: New York City Has It.(And what about other cities?)
If you’re going to generate million-dollar fees, you’re going to need million-dollar clients. And in New York, the self-proclaimed center of the universe, America’s millionaires come to live and mingle. So says the Metro Wealth Index, which has completed its annual report on high-net worth individuals: New York City continued to top the Index and […] -
Banking Law, Musical Chairs, Wall Street
Musical Chairs: Milbank Poaches Latham's Global Banking Co-Chair and Four Others
Partners are on the move, and this time it’s major. Latham & Watkins is losing some serious firepower from its banking group, with the windfall going to Milbank. Am Law Daily reports: Milbank, Tweed, Hadley & McCloy made a rare venture into the U.S. lateral market Tuesday, announcing that it had lured five Latham & […] -
Goldman Sachs, In-House Counsel, Money, Wall Street
Goldman General Counsel Greg Palm Is Still Richer Than You
Last November, we scrutinized the compensation of one of America’s best-paid in-house lawyers: Gregory Palm, general counsel of Goldman Sachs. There was some nit-picking from readers about the precise size of his (pay) package, reflected in the various updates appended to the post, but there was unanimity on the main point: serving as Goldman’s top […] -
Biglaw, General Counsel, In-House Counsel, Morgan Stanley, Musical Chairs, Wall Street
Musical Chairs: Frank Barron Leaves Cravath for Morgan Stanley
It’s not every day that a partner leaves the storied firm of Cravath, Swaine & Moore. But it’s not every day that a suitor with comparable prestige, wealth, and WASPiness comes calling. Dealbook reports: Morgan Stanley said on Thursday that it has hired Francis P. Barron, a partner at the law firm Cravath, Swaine & […]
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Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so…
Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get…
Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use.
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The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms.
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Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm.
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Biglaw, In-House Counsel, Job Searches, Wall Street
Bankers Return; Can Lawyers Be Far Behind?
Despite the depressing efforts of Marin County and Michigan Law School, there is a leading indicator that could portend good news for Biglaw lawyers. Wall Street is hiring bankers again. Bloomberg reports: Firms are adding jobs for the first time in two years, rebuilding businesses cut during the financial crisis and offering guaranteed payouts to […] -
American Bar Association / ABA, Wall Street
ABA Trying to Push Back Against the Financial Reform Bill
The ABA might remain silent when it comes to stopping law schools from taking financial advantage of law students. They might pass rules that allow legal work to flow freely overseas, damaging the livelihoods of lawyers back home. But when it comes to Congress potentially stepping in to regulate lawyers, the organization finds its voice […] -
Citigroup, Hotties, Ridiculousness, Sexism, Sexual Harassment, Wall Street
Lawsuit of the Day: Woman Claims She Was Fired for Being Too Attractive
You know something is capturing cultural attention when your mother asks, “Did you write about that woman who got fired for being attractive?” Earlier this week, the Village Voice ran a cover story on a woman who is suing Citibank for wrongful termination. She claims that her bosses found her too hot — and thus […] -
Denny Chin, Jed Rakoff, Loretta Preska, Securities Law, Wall Street
Who's Afraid of the Big Bad Rakoff?
Since Judge Denny Chin is moving on up to the Second Circuit, the S.D.N.Y. cases pending before him have to be redistributed. Lawyers for Bank of America, which has 15 civil shareholder lawsuits on Chin’s docket, sent the chief judge a letter requesting that the cases be reassigned using a lottery system. As we mentioned […] -
Goldman Sachs, Politics, Wall Street
Miss the Goldman Sachs Hearing? We've Got You Covered.
If you missed the Goldman Sachs Congressional hearing today, you missed the height of unintentional comedy. There are too many highlights to mention. Senator Carl Levin using a dirty word, the ongoing train wreck that is Senator Tom Coburn, it was the kind of hearing that makes you laugh out loud at Congress (and secretly […] -
Lawsuit of the Day, Richard Klapper, Securities and Exchange Commission, Securities Law, Wall Street
SEC Accuses Goldman Sachs of Hypocrisy in Civil Suit
The Securities and Exchange Commission filed a civil suit against Goldman Sachs this morning. According to the SEC, Goldman is guilty of taking a “do what I say, not what I do” approach to mortgaged-backed securities. Well, d’uh. That’s why Goldman isn’t suckling on the federal teat right now. The SEC claims Goldman sold a […] -
H. Rodgin Cohen, Quote of the Day, Wall Street
Quote of the Day: Is Rodge Cohen Comparing His Clients to Coke Addicts?
The cocaine analogy is quite a good one. Because this stuff was addictive. A lot of people couldn’t resist. — H. Rodgin Cohen — former chairman of Sullivan & Cromwell, and counsel to many of the nation’s biggest banks — discussing subprime mortgage debt.