A Guillotine For Lawyers
Last week a prominent Manhattan law firm agreed to pay a galling $41 million to settle a federal suit arising from its defense of Charles Keating and his Lincoln Savings and Loan Association. The government’s claim? The firm, Kaye, Scholer, Fierman, Hays & Handler–and three partners, including former managing partner Peter Fishbein–deceived federal banking regulators by withholding damning information about its client. Kaye Scholer’s response? It was being treated like Malesherbes, the counselor guillotined for representing Louis XVI before the revolutionary assembly....