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Who Let The Lawyers Out?: Reconstructing The Role Of The Chief Legal Officer And The Corporate Client In A Globalizing World, Constance Bagley
Who Let The Lawyers Out?: Reconstructing The Role Of The Chief Legal Officer And The Corporate Client In A Globalizing World, Constance Bagley
Constance E. Bagley
In the wake of the collapse of Lincoln Savings and Loan in 1989 and again after the implosion of Enron and WorldCom in 2001, Judge Stanley Sporkin famously asked, “Where were the lawyers?” Section 307 of the Sarbanes-Oxley Act of 2002 imposed new duties on in-house counsel to report up violations of law. Yet, we still had the LIBOR and foreign-exchange rigging scandals, which had, by 2015, led to multi-billion dollar settlements and fired bank CEOs in England and Germany; rampant insider trading by hedge funds and corporate titans; the subprime mortgage crisis; the option backdating scandals; and massive recalls …