Howrey Horror Story: After a sour financial performance in 2009, Howrey is getting ready to cut at least 20 and as many as 30 partners, reports the AmLaw Daily. Firmwide managing partner Robert Ruyak confirmed the news Thursday.
The DOJ Doldrums: The National Law Journal's Michael Scarcella has news of more problems for federal prosecutors, this time in the case of former Rep. Rick Renzi (R-Ariz.). A federal magistrate judge says Department of Justice lwyers unlawfully recorded privileged phone calls between the congressman and his attorneys during an insurance fraud investigation.
Happy Together: Democratic leaders are moving closer to combining health care reform and a revamp of the student loan industry, two of President Obama's signature initiatives, into one bill. Some formerly wary Senators are warming to the idea of using reconciliation to pass both. Here's the Washington Post story.
Last Days of Lehman: A new 2,200 page report out Thursday details how defunct investment bank Lehman Brothers used accounting gimmicks to hide its deteriorating finances. The New York Times calls it "the Wall Street equivalent of a coroners report."