What Goes Around
This post is of little moment, so don't bother to recommend it. Just an idle thought about how sometimes history does repeat itself.
Thom Hartmann is reading 1932 NYT articles and seeing similarities to the present.
I am sitting here watching Citigroup and Wells Fargo about to get into it over who is going to be sued for tortious interference on the Wachovia takeover.
Its like Penzoil/Getty/Texaco all over again, except the investment banks are going to be different.
Wachtell Lipton is the same...in any case. Whatever happened to Skadden Arps?
Well, <i>plus ca change...</i>
Thom Hartmann is reading 1932 NYT articles and seeing similarities to the present.
I am sitting here watching Citigroup and Wells Fargo about to get into it over who is going to be sued for tortious interference on the Wachovia takeover.
Its like Penzoil/Getty/Texaco all over again, except the investment banks are going to be different.
Wachtell Lipton is the same...in any case. Whatever happened to Skadden Arps?
Well, <i>plus ca change...</i>
Advertisement
Apparently Skadden Arps outmanoeuvred a bunch sleep-deprived shysters from Sullivan and Cromwell. With 2000 lawyers to feed, Skadden Arps would sue a woodpile on the chance there was a billable snake in it.
October 4, 2008 2:20 AM | Reply | Permalink
Skadden Arps would sue a disposable cellphone on the chance there was a billable minute left on it.
(It isn't every day that a new genre of lawyer jokes gets invented!)
October 4, 2008 2:27 AM | Reply | Permalink
Skadden Arps would sue the teeming loins of Grandma Skadden for only producing 2000 lawyers, under the "be fruitful and multiply" injunction of Natural Law.
October 4, 2008 2:38 AM | Reply | Permalink
But while Grandma Skadden's weasels are furiously scurrying down every rat-hole that might have a billable peanut in it, the somnolent partners at Sullivan and Cromwell are only aroused to a nodding semi-consciousness once a year, just in time for the Harvard v. Yale kickoff.
Boola boola!
October 4, 2008 7:21 AM | Reply | Permalink
I liked this game so much that I turned it into a blog unto itself!
http://tpmcafe.talkingpointsmemo.com/talk/2008/10/skadden-arps-sullivan-and-crom.php
October 4, 2008 8:16 AM | Reply | Permalink
I just got here!!! Man, Jake! too funny!
I didn't figure any of the folks here even heard of Skadden much less Crumbwell.
You wouldn't be a partner (or shudder, associate) there? Nah. Not the type.
October 4, 2008 12:28 PM | Reply | Permalink
It is fun to see this morning's NYT and Jonathan Glater's article in the biz section. He must have read my post last night...no one but me remembers that old fight. He even used my phrase, "tortious interference". Dang, Jonathan give me some creds!
October 4, 2008 7:37 PM | Reply | Permalink
And since this thread has cycled off into the archive, I can safely assume no one else will read this.
So, take a tip....Citigroup is going to take this to NC and win big. Wells Fargo did interfere with an "agreement" and fiduciary obligations don't trump contracts....if they did, how could you ever enter into a contract with an entity with fiduciary duties? Sorry, Wells Fargo, lo siento mucho, Wachovia board. Skadden, you should have known better....
October 4, 2008 7:42 PM | Reply | Permalink
Correction, it will be NY and a jury trial. Wells Fargo is going to regret this very very much.
October 4, 2008 9:06 PM | Reply | Permalink