Friday, December 21, 2007
BIFF-BAFF! the first punches start landing in the legal fallout from Sub-Prime. The big winners in all of this will be the arch parasites – Lawyers.
In law, as in life, timing is everything. And so there was little coincidence that Barclays chose the afternoon before Bear Stearn's fourth-quarter annual results to file its $400m-plus lawsuit alleging all manner of woes. As Bear's executive committee put the finishing touches to its damaging fourth-quarter results statement, so Linklater's Lawrence Byrne was filing the 75-page suit at New York's downtown federal courthouse.