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Harriet Miers' Enron problem
by reposted
Monday Oct 3rd, 2005 7:13 PM
It appears that the right-leaning but Bush-disliking Professor Bainbridge was the first to notice this extraordinary tidbit from Harriet Miers' past (a hat tip also to David Sirota at HuffPost). This morning, President Bush touted Miers' leadership abilities, including her position as managing partner of Locke Liddell, a major Texas law firm. Turns out, however, that Locke Liddell had a teensy little legal problem while Miers was running it: the firm represented a client who was defrauding investors via a Ponzi scheme; the firm knew that the fraud was going on; and the firm said nothing to anyone, thereby costing fraud victims millions. As a result, the firm was sued, and ended up paying a $22 million settlement. The firm, of course, denied any wrongdoing, as is standard procedure in such settlements.
Nor, according to Sirota, was that the only time in which Locke Liddell had to shell out millions to settle a lawsuit under Miers' leadership - apparently there was another, similar incident that cost the firm another $8 million.

The full story on the $22 million settlement is below. In the meantime, we look forward to learning more details about this most interesting story.

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