Sitting in judgment

Post-crunch, the Wall Street hotshots are in the doghouse. This week they have been suffering in New Orleans courtesy of Tulane University’s annual M&A law conference. But the usual location for this particular doghouse is Delaware. The tiny state’s usually staid justices may be quietly enjoying a rare turn as the masters of the M&A universe. This time last year, dealmakers from New York banks and law firms ruled their flush institutions. They led record-breaking private equity deals funded by ...