Hey Gang,

Do we feel a new page coming on?  Yeah, Baby! 

As Dewey LeBoeuf seems to be revealing itself as having operated as a criminal enterprise, the moiety forming the cover up will likely be first to splash the Zeitgeist.   How ironic that a law firm would take part in developing a private placement memorandum which willfully and knowingly hid extremely important "guarantee" details.  We believe it is called "Fraud".  We also think that it will be very, very difficult for the underwriters to escape RICO consequences, unless they run to a DA and cut a deal. 

And now we see that J.P. Morgan is now also "in play" due to the collapse of Dewey LeBoeuf.  We can only wonder which parties will be more eager to rat on the other.

Assuming al arguendo that a prosecutor tees up Dewey LeBoeuf, let's put ourselves in her shoes for a moment.  First, she may be a little upset at having had her precious little derriere backed down into a corner.  Right?  I mean what prosecutor would break the first rule from the Planet Of The Apes and actually bring charges against another ape?  Well take a step back.  Which of you believed any of the predictions of BankruptcyMisconduct concerning Dewey LeBoeuf, like our prescient point about brother attorneys in the firm ratting out their own former management?  OK, you should be ready to have an open mind now.

So let's wonder what madam prosecutor will ask J.P. Morgan.  "Who provided information for, wrote, and read the prospectus?"  is a good opening.  What possible contortion of truth will these lawyers construct?  The easiest out for them will be to indicate that they fully informed J.P. Morgan and J.P. Morgan were the professionals who wrote the prospectus which even Blago would remark was fraudulent. 

And thus, J.P. Morgan is in play.  What will J.P.Morgan claim?  "We asked them if there were any problems or hidden stuff under the rug and they said there is was none", or something like that.  It doesn't really matter, because at least one party was a crook, and perhaps they both conspired.

The funny thing is that these lawyers just don't get it.  They are soooo used to lying under oath in their affidavits of disinterestedness, and getting away with when caught, that they just couldn't conceive of getting jail time for lying in a private placement memorandum.

Remember what BankruptcyMisconduct said about the Culpability Gradient, and what we've always said about getting your deal first.  Oh, this story about the firm which believed that Bruce Bennett's bankruptcy bamboozlers would fit right in...

 Come download Dewey_LeBoeuf_Private_Placement_Memorandum.pdf for free!