Approved Quote by Charlie Munger
![“The lawyers have escaped most criticism [and undeservedly so]. The tax shelters [were approved by lawyers, who got paid huge commissions to do so] and every miscreant had a high-falutin' lawyer at his side. Why don't more law firms vote with their feet and not take clients who have signs on them…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/18b/charlie-munger-458_approved_the-lawyers-have-escaped-most-criticism_2142390.jpg)
“The lawyers have escaped most criticism [and undeservedly so]. The tax shelters [were approved by lawyers, who got paid huge commissions to do so] and every miscreant had a high-falutin' lawyer at his side. Why don't more law firms vote with their feet and not take clients who have signs on them that say, "I'm a skunk and will be hard to handle?" I've noticed that firms that avoid trouble over long periods of time have an institutional process that tunes bad clients out. Boy, if I were running a law firm, I'd want a system like that because a lot of firms have a lot of bad clients.”
About This Quote
Law firms should avoid representing clearly harmful clients, using institutional filters to protect reputation.
In simple terms: Law firms need to reject bad clients.
Key Takeaway
Implement client screening processes.
Themes
ethics
law
business
reputation
Mood
critical
thought‑provoking
Type
ethical
business
When to use this quote
- law firm management
- risk assessment
- client intake
Key Concepts
client vetting
institutional safeguards
professional responsibility
Questions to Reflect On
- What criteria would you use to reject a client?
- How can firms balance profit and ethics?
A Different Perspective
May limit revenue from high‑paying but risky clients.
![“They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/a55/charlie-munger-458_be-good_they-mc-donalds-take-people-and-give-the_41809.jpg)
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)
![“You have not been mistaken in supposing my views and feeling to be in favor of the abolition of war. Of my dispos[i]tion to maintain peace until its condition shall be made less tolerable than that of war itself, the world has had proofs, and more, perhaps, than it has approved. I hope it is…” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/77f/thomas-jefferson-43_abolition_you-have-not-been-mistaken-in-supposing_184816.jpg)
