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{{a|glossary|[[File:Kermit.png|thumb|300px|center|A passed-over [[GC]] candidate yesterday]]}}A human organisation even less effable than the [[magic circle law firm]], a [[U.S. law firm]], and particularly a senior partner | {{a|glossary|[[File:Kermit.png|thumb|300px|center|A passed-over [[GC]] candidate yesterday]]}}A human organisation even less effable than the [[magic circle law firm]], a [[U.S. law firm]], and particularly ''a senior partner in a U.S. law firm'', occupies a place in the international financial services pantheon akin to a demi-god. Because no-one dares challenge him there is one, for example, who has held the global financial services market hostage for twenty years over the subject of the [[ERISA netting opinion]]. | ||
The legal department of each [[investment bank]] will be captive of one [[U.S. law firm]], who will, by parachute drop, supply each successive [[general counsel]] to that “client”. This odd dissonance — who’s master and who servant here? — will not go unnoticed among aspiring, but passed-over, [[Inhouse counsel|employees]] of that [[legal department]], but there is little they can do. Their [[U.S. law firm]] overlords may even be invited by the current [[GC]]<ref>Guess where ''he'' came from.</ref> to provide performance appraisals of those very [[inhouse counsel]] who may aspire to that venerated chair, which cements the master-slave relationship that they have managed to impose.<ref>See: ''[[conflict of interest]]''.</ref> | The legal department of each [[investment bank]] will be captive of one [[U.S. law firm]], who will, by parachute drop, supply each successive [[general counsel]] to that “client”. This odd dissonance — who’s master and who servant here? — will not go unnoticed among aspiring, but passed-over, [[Inhouse counsel|employees]] of that [[legal department]], but there is little they can do. Their [[U.S. law firm]] overlords may even be invited by the current [[GC]]<ref>Guess where ''he'' came from.</ref> to provide performance appraisals of those very [[inhouse counsel]] who may aspire to that venerated chair, which cements the master-slave relationship that they have managed to impose.<ref>See: ''[[conflict of interest]]''.</ref> | ||