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Judge Investigating Iceland Collapse Says Red Flags Ignored “Exactly Like Madoff”
French judge Eva Joly says red flags missed “exactly like Madoff.”
Liability for Accountants and Others in the Financial Crisis
On February 24, 2009, Stuart Grant of Grant & Eisenhofer P.A. and Michael Young of Willkie Farr & Gallagher LLP discussed the subject of the potential liability of professionals in the financial crisis with Securities Docket’s Bruce Carton. The discussion was part of a webcast in which Grant and Young collaborated on a presentation on [...]
Australia: Publicly Traded Law Firm Slater & Gordon Reports 22% Increase in Net Profit
At least one law firm appears to be weathering the financial crisis Law firm with solid financial results. Melbourne-based Slater & Gordon, the world’s first law firm to be publicly listed, reported a 22.4% increase in net profit for the six months to December 31 to $8.46 million, up from $6.9 million for the previous [...]
Play “The Bailout Game”
Via our friends at Kraut in the City we have stumbled upon a fantastic bit of financial crisis entertainment called “The Bailout Game.” Highly recommended. Play The Bailout Game
Cox: SEC’s Calmness in Financial Crisis a “Signal Achievement”
In a lengthy interview with the Washington Post, his first interview since the Madoff scandal broke, SEC Chairman Christopher Cox, defended his leadership and restraint during the financial crisis. Cox also clarified that although it was not well understood by the public, it was not the SEC’s job to prevent investment banks from collapsing, but [...]
Federal Bailout Application Form (Satire)
Presenting the Federal Bailout Application Form that is “so simple, and easy to use, that even Skadden Arps should bill no more than $2.7 million to review it.” Read the Federal Bailout Application Form (via @derekabdinor‘s Twitter feed)
UK: London Lawyers Report Surge in Financial Crisis-Related Litigation
Litigation departments at London’s leading law firms report that they have grown significantly busier in recent weeks with litigation resulting from the financial crisis, the Times Online reports. Jonathan Kelly, a partner at Simmons & Simmons, said that a range of institutional investors have now begun considering legal action as the market starts to settle. [...]
Explaining the Financial Crisis in Caveman Logic
Confused by credit default swaps and other components of the current financial crisis? Jim Manzi of the National Review takes it down to the prehistoric level, using the activities of caveman Og and his cousin Ug to clear things up. Read “So Simple a Caveman Could Do It” in the National Review Online