Powerful and respected lawyers and attorneys always seem to find their way into prominent government positions. Yesterday, the Legal Times discussed which positions are being most closely monitored and which legal eagles are likely thought to fill these high-powered appointments.
According to the Legal Times article, six key positions are being vigilantly observed. These include openings at ''regulatory agencies and the Justice Department – positions that are more likely to have a direct impact on clients than Cabinet-level or West Wing jobs like White House counsel or attorney general.''
Discussed in the article are: FCC openings, FDA Chief Counsel, FTC Chairman, PTO Chief and IP Czar, SEC Chairman, and the Solicitor General.
While all of the above are highly-regarded and influential jobs, in the current poor climate of our economy and financial markets, and with pundits now saying we are entering a recession, the appointment of the SEC Chairman is especially paramount.
By many reports, the top name on the SEC short list is Harvey Goldschmid. Goldschmid, a Columbia Law School professor, is said to be the big-name needed to help encourage better feelings surrounding the SEC and their tactics. Legal Times wrote:
''But the name that appears near the top of everyone's list is Columbia Law School professor Harvey Goldschmid. A former SEC official says that selecting Goldschmid, an SEC commissioner from 2002 until 2005, might be a long shot considering he only donated $2,300 to Obama. The official says that big fundraisers with SEC and Wall Street experience are typically the ones to get tapped as SEC chairman. But others, including Arnold & Porter partner and former Commodity Futures Trading Commission general counsel Daniel Waldman, aren't so sure that campaign money will hold back Goldschmid.
I'd be surprised in this selection that fund raising is going to be a big disqualifier," Waldman says. ‘The financial meltdown and the lack of SEC action is going to force a high-profile name. The person won't just be an ambassador.'''
Soon enough, appointments will be made and the US and the rest of the world can judge for themselves and form their own opinions.
LawCrossing is a huge data bank not only of legal jobs but also various informative articles.
LawCrossing Fact #112: Every week, we feature the advice and observations of industry pros. Learn from their wisdom and move forward.