ON Securities

I attended a compelling legal education program this week, taught by Egil “Bud” Krogh. Political junkies know that Krogh was a young assistant White House counsel in the Nixon years. As a leader of the “Plumbers” unit, he authorized the 1971 break-in of the offices of Daniel Ellsberg’s psychiatrist after the leak of the Pentagon Papers. After the break-in came to light in the Watergate hearings, Krogh pleaded guilty, served time in prison, was disbarred and later reinstated. Bud now lectures on the topic of legal ethics, based on his recent book, Integrity: Good People, Bad Choices, and Life Lessons from the White House. His premise: in a pressure-filled environment such as the White House, intense loyalty to individuals can blind you to your higher principles. . . . . Krogh’s description of an environment that can put pressure on decision-making is familiar to anyone called on to say yes or no to any proposal by a corporate officer. . . . [H]ow do some decisions, even decisions by good people, go astray? A great example can be found in the options backdating scandals. . . . I asked Krogh how to advise an attorney . . . how to avoid the pitfalls of losing perspective in a pressure-filled situation . . . . [to read more, click on the link above]

The past few weeks have been fairly slow in terms of new developments in securities law, corporate governance and executive compensation. However, summer’s over, and I’m expecting a flurry in the next few weeks. Take a look back at the ON Securities Cheat Sheet – a lot of these developments are likely to change as we head into the fall . . . . Last weekend I saw my all-time favorite film about blogging – okay, maybe the only film I have seen about blogging. “Julie & Julia” follows two parallel true stories . . . . I watched Julie’s story with my “blogger hat” on, and I tried to figure out what made her blog successful. . . .[to read more, click on the title above].