By Jack Limpert
A round of applause for the Washington Post and reporter Steven Mufson for his Sunday story, “Why Would Patton Boggs…” about a DC law firm’s entanglement in a $19 billion judgment by an Ecuadorian court against Chevron.
I’ve been editing Washington legal stories for 40 years and this is one of the best newspaper or magazine stories ever written about a DC law firm. The graf that takes it beyond just a superb law firm story: “How Patton Boggs ended up here is a tale of how the old boy network works in the elite legal world. And it involves an unusual niche—hedge funds that invest in complex litigation in the hopes of sharing a big pay day.”
Hedge funds helping to pay for billion-dollar lawsuits? And betting on the outcome? The legal world as the next big casino?
Journalism’s future is digital but Mufson’s extraordinary reporting is a reminder that it takes experienced, talented reporters to do great stories. Amid all the digital noise, this is real journalism.
I would love to have this kind of an in-depth look at the role law firms are playing in mortgage fraud. It is clear that there is an unholy alliance between law firms that help banks circumvent the law, legislators that turn their heads for fear of losing campaign contributions and the judiciary that refuse to rule in accordance with long-standing contract and mortgage laws.