by Pam Martens and Russ Martens at Wall Street on Parade
Less than seven hours after Wall Street On Parade ran our negative critique on SEC Chairman Gary Gensler’s pick to be the top crime fighter at his agency, Alex Young K. Oh abruptly resigned that position after just six days on the job.
Corporate media is now attempting to blame the sudden exodus of the 20-year veteran of the law firm Paul, Weiss, Rifkind, Wharton & Garrison (one of the go-to law firms for the mega Wall Street banks) over her and/or her Paul Weiss colleagues saying something rude in a deposition where they were defense counsel for Exxon Mobil. (If you’ve ever sat for a deposition represented by Big Law on both sides, you know that rudeness is often de rigueur.)
According to reporting at Politico, lawyers for plaintiffs in the case told the court that the Paul Weiss lawyers “had characterized them as ‘agitated, disrespectful and unhinged.’ ” After four years of the highest officer in the land, President Donald Trump, Tweeting every manner of insult against elected officials and foreign dignitaries, that actually sounds rather tame to us.
We can assure you, without hesitation, that something far more insidious is going on here.
Paul Weiss represents the most powerful mega banks on Wall Street. And yet, this law partner with more than two decades at the firm and a Yale law degree was representing petty drug dealers and bank robbers in the U.S. District Court for the District of Columbia according to federal court records.
We decided to take a look at cases in which Oh served as an attorney in the U.S. District Court for the Southern District of New York, since that is where most cases involving the serial crimes on Wall Street are conducted.
Looking at both open and closed cases dating back to 1997…
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