Lawyers have a way with words. ”A way” meaning “a propensity for stretching and manipulating their meaning with reckless abandon.” So it was with glee that I stumbled onto this gem from Skadden Arps’ website:
Skadden secured three recent victories in cases involving mortgage-backed securities. On August 14, 2012, we obtained an interlocutory appeal to the U.S. Court of Appeals for the Second Circuit for UBS in a suit brought against it (and 16 other banks) by the Federal Housing Finance Agency seeking to recover billions of dollars in alleged losses by Fannie Mae and Freddie Mac from investments in mortgage-backed securities.
Lawyer readers may notice this right away, but let me point out that Skadden is bragging about their ‘victory’ in getting an appeal accepted for the case that they lost. Picture me slow clapping. Ballsy spin, bros.