Tuesday, April 10, 2007
Posted by Alan Childress
Several recent new items suggest that lawyers are being held accountable for their roles in the recent financial scandals. Several of Enron's house counsel have been indicted and Jenkins & Gilchrist has dissolved, due to the involvement of attorneys in an acquired Chicago law firm in the marketing of tax evasion schemes. Modern financial scams, due to filing requirements imposed by both state and federal authorities, necessarily involve the participation of lawyers and often involve lawyers in the planning. High profile prosecution of lawyers who have misbehaved should help to sober up the practice and give some cover to lawyers who want to resist pressure from clients.
Nice point about using new law as cover against client demands, though of course it would be better if clients did not have to be so cajoled. As a further aside, I note that Dale went to college and law school at Michigan and teaches at Ohio State--making me think of that ESPN commercial about the cute cuddly couple on the couch that we soon see are wearing an OSU (he) and a Michigan (she) sweatshirt: "Without sports, this wouldn't be disgusting." I wonder who Dale cheers for. I know who Jeff cheers for.