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The Pros And Cons Of Federal Chartering

When I was in law school some years ago, and in a particularly cynical mood, I came up with a little joke to describe the essence of legal education in the U.S. It involves a class in jurisprudence in which the exam is being graded on a pass/fail basis. The only question on the exam is, “What do you believe?” The only acceptable answer is, “Whos my client?”

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