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January 18, 2010


Rick Telberg

Excellent reasoning! As usual.

But, next question:

What would the new “structure” look like?

And why aren’t smart firms moving there already?


Thanks Rick.

As for why the firms aren’t going there — I’ve written on this — see my archive for July 11, 2009. A very quick summary is that their leaders are hand-cuffed to the present model, unable to break their partners from the revenue and unable in this litigation environment to offer or sell new kinds of assurance to their clients.
As for structure — to avoid catastrophic collapse, one possible scenario is federal chartering, so long as there is a real blank-page approach to the regulatory and liability issues. Again, see my archive for June 10, 2008.

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