Top News

  • October 1, 2008

    Bailout Still In Doubt As Spotlight Shifts To House

    The U.S. Senate passed a modified $700 billion bailout package for the financial industry on Wednesday night, setting the stage for another vote in the House of Representatives as early as Friday. But the outlook for approval by the House remains uncertain.

  • September 29, 2008

    Back To The Drawing Board For Bailout Bill

    U.S. Treasury Secretary Henry Paulson was set to mull over options with President Bush, the Chairman of the Federal Reserve and key members of Congress after the $700 billion bailout plan failed to pass the House of Representatives on Monday afternoon.

  • September 26, 2008

    Lawyers Call Crisis 'Unprecedented'

    We asked more than 300 law firms to tell us what their most seasoned professionals thought of the financial meltdown. The verdict: an unprecedented crisis, unlike anything anyone has seen in many decades of practicing law.

  • September 25, 2008

    Feds Seize WaMu As Bailout Talks Crumble

    The financial crisis raged on unabated in the early hours of Friday, with the government shutting down the country’s largest savings and loan bank amid an apparent breakdown in Congressional talks about a bailout of the banking industry.

  • September 24, 2008

    Associates Eye Lower Bonuses Amid Turmoil

    As America's economic malaise catches up with many of the nation's leading law firms, associate bonuses — typically paid in December or January — will suffer, legal industry insiders say.

  • September 30, 2008

    Cold Feet Won’t Stop Firms From Tying Knot

    Between Heller Ehrman LLP’s demise following a series of failed merger talks and the uncertainty of the U.S. economy, some law firms may be wondering whether taking the plunge with another firm is such a good idea right now. But initial misgivings are not likely to slow the pace of law firm tie-ups, legal experts say.

  • September 23, 2008

    Govt. Bailout Golden Egg For Some Firms

    Most of the work stemming from the current Wall Street crisis and the proposed $700 billion bailout plan will likely go to a small number of firms that enjoy long-standing client relationships with the major players involved.

  • September 22, 2008

    Democrats Push For Changes To $700B Bailout Plan

    Congressional Democrats and their allies are pushing for the U.S. government to limit executive compensation and help out homeowners facing foreclosure as part of its $700 billion plan to bail out Wall Street.

  • September 18, 2008

    As Heller Reels, Legal Job Market Looks Iffy

    Rumblings of major changes at international law firm Heller Ehrman LLP grew to a roar Thursday as a source at the firm and outside experts said no scenario, including outright dissolution, was off the table. And while seasoned partners will have no problem finding work should the firm meet its maker, the situation for associates looks decidedly bleaker, job consultants say.

  • September 19, 2008

    5 Things Firms Must Do To Stay Afloat In Tough Times

    In times of financial turmoil, long-standing grudges, lagging practice groups and other weaknesses can become more pronounced. If it gets bad enough, firms can start to unravel. So what can be done to maintain the business when the going gets tough? Lawyers and industry insiders on Friday pointed to five interwoven concepts.

  • September 17, 2008

    Experts Divided On Benefits Of AIG Bailout

    Experts are divided on how the $85 billion government bailout of American International Group Inc. will affect competition in the insurance industry and the role of the United States in promoting free markets abroad.

  • October 2, 2008

    High Court Ready To Referee Antitrust 'Soap Opera'

    As the U.S. Supreme Court prepares to kick off a new term, antitrust lawyers are waiting with bated breath to see how the court will tackle a price-squeezing case that triggered a dispute between the U.S. Department of Justice and the Federal Trade Commission.

  • September 16, 2008

    Wall Street Woes Spell Trouble For Law Firms

    Already a year into the credit crunch, law firms are now faced with perhaps the most dramatic reorganization of Wall Street since the Great Depression, prompting questions of just how prepared firms are to weather the latest economic storm.

  • September 15, 2008

    Lehman Must Act Quickly: Bankruptcy Experts

    Bankrupt Wall Street titan Lehman Brothers Holdings Inc. is now racing against the clock to preserve the value of its 158-year-old business.

  • September 14, 2008

    Lawyers Face Dramatic Challenges On Wall Street

    With Lehman Brothers Holdings filing for bankruptcy, Bank of America set to take over Merrill Lynch, and AIG about to announce a major restructuring, lawyers are facing unprecedented legal challenges for their Wall Street clients.

  • September 11, 2008

    Senate Passes ADA Amendments Act

    The U.S. Senate unanimously passed a bill Thursday that would overturn a series of Supreme Court decisions and expand what conditions are considered disabilities under the Americans with Disabilities Act.

  • September 10, 2008

    Sky Darkens For Lehman Brothers

    The outlook for Lehman Brothers Holdings Inc. has gotten suddenly grimmer, with the investment bank admitting that it expects to suffer a loss of $3.9 billion in the third quarter as whispers of a potential bankruptcy grow louder.

  • September 9, 2008

    Bill To Ease Discovery Burdens Moves To White House

    A bill that would establish a new federal rule of evidence aimed at reducing the cost and time of reviewing e-mails and other documents requested in discovery to avoid accidental disclosure of privileged materials is a presidential pen stroke away from becoming law after being passed by the U.S. House of Representatives on Monday.

  • September 8, 2008

    Fannie, Freddie Takeover Likely To Spark Litigation

    The U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac over the weekend is likely to spark a series of new lawsuits surrounding the troubled lenders and their now-former management, experts say.

  • September 7, 2008

    Fannie, Freddie Conservatorship Mirrors Chapter 11

    The Bush administration's decision to place both Fannie Mae and Freddie Mac under "conservatorship" effectively amounts to the largest bankruptcies in U.S. history, even if the mortgage giants are not technically bankrupt.