Banking

This is the third largest bank failure in U.S. history.

* Some lawyers out there are getting paid for putting together the most financially significant $1.20 deal ever. [Law360]

* Barney Frank, whose nameesake regulations could have prevented the recent bank collapses and then lobbied to support Trump administration efforts to relax those same regulations, sits on the board of now-collapsed Signature Bank. D’oh. [Twitter]

* But Frank isn’t blaming the regulatory rollback he supported. He’s blaming crypto. I guess just because it’s fake money supported by libertarian fever dreams and Ponzi schemes. Though that does force one to ask: why was his bank seemingly so exposed to it then? [Bloomberg]

* Biglaw favors laterals over home-grown associates. So you’re telling me they want all of the revenue generation with none of the training write-offs? Weird. [American Lawyer]

* Trial by combat lawyer seeking unpaid fees from former political candidate. I think I speak for everyone when I say we can resolve this with a simple joust. [NY Post]

* Michael Irvin allegations finally detailed. [Yahoo]

* Lawyers drought in rural states creates massive workloads for those who stay. [Gazette]

The shame is punishment enough.

Amazon lends billions to small businesses -- and surely plans to expand.

If banks can pull off Power Niches in their non-innovative and highly regulated industry, surely you can too.

* Jeff Sessions has a new job. [CNN]

* Beyoncé sued by YouTube star’s estate. She’d better hire Becky with the good law degree. [NBC News]

* David Boies is taking on human trafficking. Hopefully this fight doesn’t require any travel today. [Litigation Daily]

* Groups are suing to block Trump’s proposal to eliminate two regulations for every one enacted. If you want safe drinking water, hope you like spoiled eggs and no airbags, motherf**kers! [Law360]

* Speaking of political shenanigans with the law, the courts have put the kibosh on North Carolina’s hilarious lame duck effort to limit the powers of the governor once they realized they lost it. [ABC News]

* When lawyers go wrong. [Am Law Daily]

* Scott Alvarez, the Fed’s top attorney, is retiring. Or “leaving his current job.” Let’s not pretend there won’t be a Biglaw of GC seat waiting for him if he wants it. [MarketWatch]

* Is it legal for the president to delete Tweets? Probably not. [Forbes]

* Putin signs a law decriminalizing a huge chunk of domestic violence claims. In case you were wondering what’s on tap for after midterms. [Fox News]

How... in the world... did a bank let this happen?

Which Supreme Court justice wrote "Other People's Money and How the Bankers Use It"?

Adding to the banks’ compliance obligations, effective immediately, banks chartered or licensed in New York will now face an updated cybersecurity examination process, Superintendent of the Department of Financial Services (DFS) Benjamin M. Lawsky announced in a memorandum.

In what is being considered a record, landmark case, a former bank executive at Countrywide Financial (now owned by Bank of America Corporation) was awarded $57 million for exposing the presence of fraud in the company’s mortgage practices.

* Charles Manson is getting married. Have folks uncovered his registry yet? Or is this just hilarious trolling? [Lowering the Bar]

* No, Tim Tebow did not get arrested soliciting a prostitute, no matter what your Facebook feed tells you. It’s obviously false. I watched his pro career, he can’t score for money. [Snopes]

* Remember the lawyer who dressed up like Thomas Jefferson and declared himself “incompetent” at his own disciplinary hearing? Well, now we have video of this insane argument. [Above the Law]

* Take the quiz: Drug or Pokemon character. [The Volokh Conspiracy / Washington Post]

* Prosecutor wants to withdraw evidence rather than reveal how the cops got it. That doesn’t sound shady at all. [Slate]

* Professor Richard Sander keeps riding that “affirmative action is bad because it lets in dumb (minority) kids” train. [TaxProf Blog]

* Shearman & Sterling partner Richard Hsu interviews Tae Hea Nahm, a former partner at Wilson Sonsini who moved from law to venture capitalism. [Hsu Tube]

* Bloomberg BNA launches a new product, Bloomberg Law: Banking, to provide legal and business intelligence for banking professionals. [Bloomberg BNA]

* Buffalo attorney Alfonzo Cutaia took time lapse video of the Lake Erie lake effect from his office window. It’s gone viral, and it’s pretty clear why. That’s some messed up weather right there. [YouTube]