Corporate & Securities Law

Death of Big Government

I?ve been talking (maybe to death) about how high costs, competition, outsourcing, etc., have contributed to the Death of Big Law. 

Now Bloomberg reports (HT Law blog) that Mark Cuban?s lawyer

told U.S. District Judge Reggie Walton in Washington that he was seeking a creative solution to moving the case along, noting the federal government often hired contractors. * * * Walton asked SEC attorneys to review whether bringing in contract attorneys for the task would violate federal hiring procedures or whether contractors would be allowed to review the documents, some of which may be classified.* * * The Cuban file is so voluminous that an attorney assigned to review it would have to spend more than eight months, assuming a pace of four pages a minute and eight-hour days without breaks, the SEC lawyers said.* * * The proposal to pay for the document review was made after Walton said he lacked authority to order the SEC to shift resources to accommodate Cuban?s request, and that there was little hope of additional funds from Congress. ?Contrary to popular belief, the federal government is going broke,? Walton said.

(You thought from the title, and proximity to the election, this post would be about something else?)

Full post as published by Truth on the Market on October 25, 2010 (boomark / email).