(& welcome Andrew Sullivan readers).

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• The best stings, cons, and capers of 2008, as chosen by Wired.  Particularly clever: the FBI’s reverse con of dozens of identity thieves.  And who knew that phone phreaks still exist in the age of the internet?
• Rod Blagojevich’s attorney seeks to compel testimony from high officials in the incoming administration to resist impeachment, while Patrick Fitzgerald asks Illinois lawmakers to hold back to avoid jeopardizing his criminal case.  Question: assuming Blagojevich is guilty, which is more important, that his impeachment proceed promptly, or that his criminal case proceed without political interference?  Alternative question: Which is more important, good (or at least less corrupt) government in Illinois, or another notch on Fitzgerald’s belt? Final alternative question: if the Obama team was more involved than its own report suggests, why not let things drag out and get the whole story?
• A blog devoted to people who deserve a punch in the face (potentially offensive images, not-work-safe language). Special favorites: “B**** who talks on cellphone at Holocaust Museum” (yes, I have seen this), and “Passive aggressive emoticon user”;
• The heroism and defiance of the crew of the USS Pueblo, released from North Korean captivity a little over forty years ago today.  If you click on a link anywhere in this post, make it this one (edit: bad link fixed);
• Contrary to suggestions from Esquire, Barack Obama is unlikely to end the war on some drugs;
• Is OSHA unconstitutional? Is seizing privately owned steel mills unconstitutional?  Legal Theory calls this paper “very highly recommended” and I agree;
• Should Jewish (and for that matter Muslim, Hindu, or Buddhist) military chaplains be required to wear a cross? The Navy says yes.  I say that if we’re going to bail out Chrysler we can afford a few pins which depict commandment tablets or crescents See below for a more interesting discussion from Ron Coleman and others, on something I completely misread;
• The right to have children is fundamental, but we remove dogs from conditions that aren’t as overcrowded as those of the Duggar family of Arkansas;
• Extraordinary Popular Delusions and the Madness of Crowds:  It’s not just the best book on economic bubbles and downturns ever written. It could be the title of this article on how a leading author on scientific skepticism was fleeced by Bernard Madoff. (Via Crime and Federalism);
• Speaking of delusions, more details on the methods through which attorney Marc Dreier allegedly stole millions emerge in this Bloomberg story.

Walter Olson will be back soon enough, but I’ll note that I have come to appreciate just how good a blogger he is, and how hard Walter works in keeping this site going over the past few days.  Perhaps you might show him your appreciation? Vote early, and vote often.

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• Sayre’s Law in action: Despite improving bar passage rates from 68% to 97%, Duquesne University Law School Dean Donald Guter has been demoted to professor, for hurting the feelings of Duquesne President Charles Dougherty;
• Oh no, not again: “New prosecutor takes fresh look at JonBenet Ramsey case”;
• Foppish Brit dandy names the ten most annoying Americanisms. Meanwhile, I need subtitles to understand most modern British television shows;
• A roundup of suppression of political speech on college campuses in 2008, from the Foundation for Individual Rights in Education;
• If you have a website domain registered through OnlineNIC, which says it’s “one of the earliest domain registrars accredited by ICANN,” consider changing registrars. The company was hit with a $33 million default judgment for “cybersquatting” domains named after Verizon trademarks. Ryan Gile has more on the perils of failing to take lawsuits seriously;
• WWFRD. What would Frank Rizzo do?  Philadelphia Mayor Michael Nutter faces a “people’s indictment,” for crimes against libraries and children;
• Your tax dollars at work: General Motors files suit to recover “hostage” auto parts;
• Bargain of the century: You can buy the trading arm of Madoff Securities.  Be sure to check the seller’s feedback rating, PayPal preferred, all sales final.

In the next edition of Microblog, we’ll answer the question, “How many lawyers does it take to change a lightbulb?”

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This story is a classic example of why journalists shouldn’t report on serious legal matters without some training, perhaps to 2L, or at least long experience as a crime beat reporter.  Of course Madoff hasn’t been sued.  Most of the likely law firms that could sue it are wondering whether they’re potential defendants, or which of the potential defendants they already represent.

Madoff was a heavily capitalized hedge fund with sophisticated investors, perhaps fifty billion dollars worth of investors.  Each and every one of those sophisticated investors had, or has, heavy legal talent among the New York, Chicago, London, and Los Angeles bigfoot law firms that would be best qualified to bring a suit against Madoff, its auditors or accountants, and the brokers who steered business its way.  The investors themselves, and the auditors, accountants, and brokers, who were generally investing other people’s money, are looking at their lawyers asking, “How did I let myself do this?”  For that matter, some of the law firms are looking at themselves and asking, “Why did I let my client do this?”  Or they’re reaching out to their banking and hedge fund clients and asking, “Wouldn’t you like to know that you’re not responsible for doing this?  I can tell you why.”  Or they’re so conflicted among their various clients that they’re asking themselves, “What do we do?”

And then there are the insurers.  And the reinsurers.  And their lawyers.  Finally, don’t forget that most of these firms have a few very sharp white collar criminal defense attorneys, who are also getting calls.  The white collar crime-only boutique firms will have a field day.

The conflict checking alone among the bigfirms probably isn’t finished.  As for firms specializing in class actions and securities litigation for plaintiffs, well, some of their best, such as Dreier and Associates and what’s left of Milberg Weiss, have been having troubles of their own.

The Madoff lawsuits will come, and the schadenfreude will flow.  As a wise man once said, “Patience, grasshopper.”

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