BigLaw Banker's Robust List of Firms That May Fail

Oct. 26 (Bloomberg Law) -- Dan DiPietro, chairman of The Law Firm Group at Citi Private Bank, says he has a "somewhat robust" watch list of law firms that may fail in the coming months. "In this kind of economic environment, it's hard to imagine we wouldn't have some" additional firms shutting their doors, DiPietro says, but he doesn't expect to see a "huge spike" in the number. Global law firms are perhaps most at risk, facing high expenses and soft demand worldwide, with the U.S. fiscal cliff looming, Eurozone problems continuing and the slowdown in China developing, he tells Bloomberg Law's Lee Pacchia.

Hot Mess: How Goldman Sachs Lost $1.2B of Libya's Money
07:01 - What do you get when you put wall street's most aggressive bank in conjunction with a Middle Eastern dictator and billions of dollars? Death threats, a hot mess and a great story written by Bloomberg's Matt Campbell. He speaks on "Breaking Ground." (Source: Bloomberg)
  • 200 Pounds of Cocaine and a Sugar Trader's Nightmare
  • Fed Making Gold Investors Nervous: Dynamic Funds' Cohen
  • TD: Canada July GDP Growth Casts Doubt on Rate Hike