Wall Street

  • Trendspotting, Wall Street

    Does Anybody Understand The Emergency Economic Stabilization Act

    We previously reported that firms are starting to launch global financial crisis practice groups. But we wondered what (if anything) those groups would be able to do for their clients. According to the National Law Journal, clients are just as confused about the bailout as everybody else. Even the ABA doesn’t actually know what to […]

    34 Comments / / Oct 7, 2008 at 3:37 PM
  • Wall Street

    Weil Gotshal Produces The Mother Of All “We’re Awesome” Emails

    We’ve been covering law firms’ attempts to reassure associates in these troubled times. Because of their respected bankruptcy practice, we’ve assumed that all was well at Weil. Friday we received word that Weil isn’t just doing “well.” Apparently, “global financial crisis” is how you spell “straight cash homey” at Weil Gotshal. From firm chairman Stephen […]

    64 Comments / / Oct 7, 2008 at 10:01 AM
  • Wall Street

    Pictures Of Our Times

    There are many strange visuals floating around during these days of financial uncertainty. Here are some interesting ones we saw over the weekend. The first is from Sheppard Mullin‘s new Menlo Park office: That is one way of saying “we have no clue how long we’re going to be here.” Meanwhile, others exact pictorial revenge […]

    60 Comments / / Oct 6, 2008 at 3:30 PM
  • Constitutional Law, Wall Street

    A Little Bit Of Knowledge Is A Hilarious Thing

    The market may have already discounted the $700 billion ($840 B) bailout bill, but the legal profession hasn’t even begun to get its hands around this thing. But while we wait for serious actions to arise from the market implosion, at least we have this crazy dude from “reenactment of 1776” to help us pass […]

    49 Comments / / Oct 6, 2008 at 10:27 AM
  • Wall Street

    Manna Is Real: The Bailout Passes

    The Bailout just passed the House: 263 – 171. The party breakdown. Democrats: 172 – 63. Republicans: 91-108.

    57 Comments / / Oct 3, 2008 at 1:35 PM
  • Law Schools, Wall Street

    The “Fight Club” Solution

    If there is one factor that ties most attorneys into the current market crisis: it’s called “law school debt.” Almost every young associate has a significant amount of money they still owe their hyper-expensive professional school (and if you don’t, I hope your trust fund is tanking right now). For many, that debt drives them […]

    79 Comments / / Oct 2, 2008 at 1:42 PM
  • Trendspotting, Wall Street

    New Practice Groups Coming to a Firm Near You

    It doesn’t always feel like it, but the legal profession is actually very recession proof. Deal work may be drying up, but the Good Book says “Whenever Hank Paulson closes a door, somewhere He opens a window.” Of course, open windows are pretty dangerous if you work in a Manhattan skyscraper these days, but the […]

    32 Comments / / Oct 1, 2008 at 3:36 PM
  • Politics, Wall Street

    FYI: The Bailout Is So Totally Off

    We like to think of ATL as a place where lawyers can get together and discuss the compelling news of the day. Well, the news of the day is that Wall Street will apparently not be receiving $700 billion dollars to cover their bad investments. The House rejected the bailout plan. The Dow is down […]

    223 Comments / / Sep 29, 2008 at 2:43 PM
  • Gay, Gay Marriage, New York Times, Wall Street, Weddings

    Legal Eagle Wedding Watch 9.21: I’ll Meltdown With You

    Even as the national economy teeters on the brink of collapse, Wall Street’s elite continue to flock to the altar. Click here, here, and here, and imagine what this month has been like for these people. Getting married is stressful enough; we can’t imagine doing it while at the center of a financial meltdown. In […]

    38 Comments / / Sep 26, 2008 at 1:31 PM
  • DUI / DWI, Health Care / Medicine, Jack Thompson, Morning Docket, Politics, Sex Scandals, Videos, Wall Street

    Morning Docket 09.26.08

    * The bailout is not on. Talks imploded at 10:30 p.m. last night. Congress is back at it today. [New York Times] * Two-time ATL Lawyer of the Day Jack Thompson, the crazy controversial video game crusader, has been permanently disbarred. [Crave / CNET News] * Words to live by: Don’t make sex videos. And […]

    24 Comments / / Sep 26, 2008 at 9:19 AM
  • Advertising, Wall Street

    Skadden Rushes To Citi’s Defense

    You’d think Skadden attorneys would have better things to bill Citigroup for than running around after small-time advertisers. But, then again, there are an awful lot of Skadden attorneys. Citi-Mobile is an advertising company that utilizes trucks as mobile billboards. Citigroup is a large commercial bank that is trying to ride out the current economic […]

    51 Comments / / Sep 25, 2008 at 4:16 PM
  • Wall Street

    FYI: The Bailout Is So Totally On

    No real legal angle here since Paulson, Dodd & Co. stopped talking to the lawyers long ago. But in case you haven’t heard, the $700 billion bailout is going to happen. Boy, aren’t you glad you elected a Democratic Congress that could stand up to Bush when he goes on television, terrifies millions of Americans, […]

    110 Comments / / Sep 25, 2008 at 3:24 PM
  • Bankruptcy, Boutique Law Firms, Law Firm Mergers, Musical Chairs, Wall Street

    Musical Chairs: Hughes Hubbard Is Ready For Some Action

    We mentioned that litigation boutiques would likely be big winners from the market collapse. Some small firms are already cashing in. The bankruptcy boutique of Luskin, Stern & Eisler has merged with Hughes Hubbard & Reed. There was enough room on the Hughes Hubbard bandwagon for everybody at Luskin. All eight lawyers will be joining […]

    32 Comments / / Sep 25, 2008 at 2:48 PM
  • Arnold & Porter, Morning Docket, Politics, Wall Street, Women's Issues

    Morning Docket 09.25.08

    * President Bush wants lawmakers to hurry up and pass the $700 billion bailout plan. Sounds like taxpayers are going to be paying back those $600 economy stimulation rebates and then some. The Dems agree to drop the provision giving greater authority to bankruptcy judges. [New York Times] * Democrats sue in Washington to force […]

    10 Comments / / Sep 25, 2008 at 9:41 AM
  • Wall Street

    Meltdown Roundup For Litigators

    We have extensively covered the law firms shaking and baking thanks to the market collapse over the past few weeks. But the M&A and bankruptcy lawyers are only half of the clusterf&^%. Which litigators will get work as old Wall Street business models die spectacular deaths? LegalTimes reports that O’Mel­veny & Myers is set up […]

    35 Comments / / Sep 24, 2008 at 11:01 AM
  • Wall Street

    Debevoise & Plimpton: Doing Well in the Downturn

    Remember the Davis Polk “internal memo” from last week, touting the firm’s success at navigating the perilous waters of Wall Street? Other firms are following DPW’s lead, taking the opportunity to toot their own horns about how well they’re doing despite — or perhaps because of — the financial system meltdown. From a firm-wide email […]

    49 Comments / / Sep 23, 2008 at 1:02 PM
  • Wall Street

    Meltdown Fees Trickle In, But Do They Trickle Down?

    Am Law Daily reports that H. Rodgin Cohen of S&C is making serious money as the markets collapse. Cohen has been the man in demand by companies struggling to ride out the latest subprime-related rollercoaster roiling the capital markets. His work this past week alone includes advising Lehman Brothers on its limited options prior to […]

    49 Comments / / Sep 19, 2008 at 3:21 PM
  • Eliot Spitzer, Wall Street

    Crusading Attorneys General Beware

    There is so much blame to go around over the AIG debacle that even “Governor John” Eliot Spitzer is getting knocked around. Remember Attorney General Spitzer orchestrated AIG founder Maurice “Hank” Greenberg’s resignation, back in 2005. But since then some of the charges against Greenberg have been dropped, while Greenberg continues to fight other allegations. […]

    27 Comments / / Sep 18, 2008 at 12:00 PM