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Let’s say you’re a white-collar defense lawyer and you’ve just been retained by a new client—a director or officer of a company facing an investigation, a lawsuit, or maybe an indictment.

In the direct aftermath of the corporate scandals that rocked the dawn of the Millennium (e.g., Enron, WorldCom, Adelphia, Tyco, etc.), a number of folks (mostly legal academics, some politicians, as well as a few others) believed that if only lawyers had somehow acted as better “gatekeepers” of the capital markets, the foregoing crises in capitalism could have been avoided.