Bruce MacEwen reviews a New Yorker article on the Wall Street meltdown and poses an interesting series of questions in Adam Smith, Esq.
Pretend Your Firm Is an Investment Bank
Analogies are imperfect (that’s why they’re called analogies), but here’s an interesting thought experiment tying together the wild rides investment banks have had on Wall Street during the past few weeks and the potential impact of the Legal Services Act in the UK, permitting law firms to go public and to take on public investors.
