The Lawyer’s Role in Preventing Corporate Fraud

Many years ago, during my third year of law school at the University of Chicago, a prominent Washington lawyer
gave the after-dinner talk at the law review banquet. Thurman Arnold was in the final years of an illustrious career. A cowboy from Wyoming, he became a law professor at Yale, a trust-buster for FDR in the New Deal years, a federal judge, and, finally, began private practice as a founder of Arnold & Porter. Arnold’s final remarks in his reminiscences have always remained fresh in my mind....