Wall Street Woes: The restructuring and dislocations of the banking industry are causing terror among corporate law firms that service Wall Street, according to this scary report in the New York Law Journal via Law.com.
Nervous Silence on Capitol Hill: Prominent lawmakers mostly stayed on the sidelines so as not to further alarm investors. But this report in The Washington Post indicates that talk is beginning on Capitol Hill about creation of a new agency similar to the Resolution Trust Corp. of the 1980s to manage the assets of failed institutions.
Heller's Rocky Monday: As merger talks broke off between Heller Ehrman and Mayer Brown on Monday, news came that 15 IP partners at Heller were heading to Covington & Burling, as reported in this wrapup from The Recorder via Law.com.
Scalia on the Road: Supreme Court Justice Antonin Scalia got rock star treatment at a Utah State University appearance Monday, according to this local report. As he often does, Scalia railed against the concept of a "living Constitution," and, in answer to a question, said it's not unconstitutional for guns to be on campus. One student said he had not seen such a large crowd on campus since an appearance by Bill Nye, the science guy. (Hat Tip to How Appealing.)