Bankrupt: The Obama administration is floating the possibility of putting General Motors and Chrysler through a guided bankruptcy. The Wall Street Journal says the plan has the potential to be “one of the biggest-ever government incursions into private enterprise.”
Executive Panic: In the wake of Richard Wagoner’s weekend ouster from GM, banking executives are anxious that they could be next out the door, the Washington Post reports. Prime candidates for a push off include Citigroup's Vikram Pandit and Bank of America's Ken Lewis.
PMA: Democratic leaders are worrying about the growing calls from within their own party for an investigation into the PMA Group’s activities on Capitol Hill. So far just eight Dems have backed a resolution by Rep. Jeff Flake (R-Ariz.) demanding an inquiry. But some wonder if that trickle of support could soon turn into a flood, Politico finds.
Big Law Blues: The top dogs in big law aren’t feeling too optimistic about their business prospects these days, according to Citi Private Bank Law Watch’s most recent managing partner confidence index. Of the roughly 120 managing partners surveyed from mostly Am Law 100 and Am Law 200 firms, 64 percent believe legal business will drop even more over the next six months, reports Legal Times’ Brian Katkin.
Chopped: A jury in Georgia awarded $2.3 million in damages to the four-year-old victim of a botched circumcision and his mother, according to the Fulton County Daily Report. Defense lawyers allegedly tried to strike as many men as possible from the jury, which apparently suit plaintiffs’ attorney Craig T. Jones just fine. "The strategy of the defense side was that men would be more sensitive to a penis injury. My experience has been that men aren't as sensitive about anything," Jones said. "I figured if you have one man on the jury, he can explain to the women -- if they don't know -- how important a penis is to a man's self-image."