Wednesday miscellany: FinReg skepticism, possible criminal c

•   FinReg fighting the last war? “Unfortunately, the passage of the current ‘landmark reforms” doesn’t do anything to force the regulatory system to get ahead of the game. In fact, it does the opposite by focusing regulators on making sure there isn’t a reoccurrence of the last crisis. So we end up looking backwards and in our complacency will likely miss the next bubble and burst cycle.” (Harvard Business Review)

•   AG Holder: Justice Department is considering both criminal and civil penalties against those responsible for the Gulf oil spill disaster. An array of laws that might apply, including “traditional criminal statutes” and the Clean Water Act. (National Law Journal)

•   The AmLaw 100 Second Hundred firms struggled in 2009 under “the twin burdens of decreased transactional work and increased client sensitivity to litigation costs” yet had better year-over-year rates of growth than Am Law 100 firms. (The American Lawyer)

•   SEC has been pushing to bar Steven Rattner from working in the securities industry for up to three years (NYT Dealbook)

•   Skype as a lawyer’s office phone solution? (The Lawyerist)

-posted by brian