There has been a problem of late, with Federal prosecutors using coercive techniques to make companies waive confidentiality on discussions with lawyers, but there is now Attorney-Client Privilege Protection Act of 2007, which codifies the oft-ignored McNulty Memorandum into law, and so would reduce the leverage that prosecutors might have to make companies waive confidentiality.

I support the change, it’s a basic bedrock principle of our legal system, but it also removes a tool in white collar crime, and we need a whole bunch more CEOs and Wall Street types doing the perp walk, because they are guilty as hell, which does not make me an enthusiastic support of the bill.