15.35 - Aleinikoff starts his speech.

15.35 – “I have the Law people at my right hand and the money people at my left, so let’s see how this all goes about”.

15.37 - Miller: “After 9/11 the world changed so we merged the firm and it has a number of politicians”.

15.41 - “We saw the world that was coming”.

15.42 - “We watched what our clients would do, and we watched them globalize”.

15.44 - “We work with different cultures and not with just one model”.

15.46 - “We wanted to wrap around the communities, we wrapped ourselves around the clients”.

15.47 - “The mixture of cultures presents lots of different problems.”

15.49 - “We have a 2 million dollar organization and we are trying to figure out how to manage to work across cultures”.

15.50 - “We have to count on really good lawyers”.

15.50 - “What Georgetown is doing is creating programs, not only new programs, but also with traditional education.”

15.52 - Ruyak: “We take locations and make them part of the global network”.

15.54 - “We can use wherever resources available, the best resources, to work with them”.

15.54 - “We’ve been able to attract really good lawyers”.

15.55 - “The challenge is to have people educated across the global spectrum”.

15.59 - Regan: “What’s happening now, is that we are in a global environment, a global competition”.

16.01 - “We have to be able to think globally”.

16.03 - “You simply will make more intelligent career decisions if you can do legal analysis.”

16.04 - “The students have to be able to think how they will structure their future”.

16.05 - “In a social global level, law is a service”.

16.06 - “People who work in law have a big opportunity to influence their corporations”.

16.07 - “There’s this tension: the will to do the best and the need to success in the profession”.

16.08 - Kimmitt: “There have been dramatic military, economic, political changes in the world since I started working”.

16.10 - “It changed a lot in the business and financial sector”

16.12 - “Bank lawyers are needed when you see how smart the guys are on the other side”.

16.14 - “Spain is a perfect partner in financial channels”.

16.15 - “It’s not easy to understand that in Europe you have to go from one council resolution to the UE”.

16.15 - “We have to retrain the lawyers”.

16.16 - “We have been focused on trade law instead of investment law”.

16.19 - “We have to have regulations, we need to work very closely with the countries around the world, also for national security”.

16.21 - “In the future the legal and policy components are going to be crucial”.

16.22 - “I can’t think of a better place than Georgetown to put these pieces together”.

16.23 - Delaney: “Essentially capital will flow through the world”.

16.24 - “In this country, when we use legal services, we tend to use them in a very focused manner”.

16.26 - “When we go international, you don’t see it in that manner anymore…”

16.27 - “The relationship with the client changes, it goes deeper”.

16.28 - “It becomes much more attractive because you are talking about the whole world”.

16.30 - Ruyak: “Law firms are going to restructure as well as merge”.

16.31 - “We need to provide different levels of service”.

16.32 - “We need to have the capital to do that”.

16.33 - Miller: “I think there are lots of lessons for law firms to learn”.

16.34 - “So far the cost of capital is cheap, but you need a lot of capital”.

16.35 - “Convergence in this sense: that the systems will converge”.

16. 38 - Regan: “You’ve got this balkanization of the profession”.

16.39 - “They will figure out organization structures that will be able to use that capital, but that’s going to be a challenge.”

16.41 - Kimmitt: “The expertise component is what we will be looking for”.

16.42 - “Sometimes the way you manage the financial part makes you lose the best people”.

16.44 - The panel is open to questions from the audience.

16.47 - Aleinikoff: “We have a system that is open to movement of companies and capital but not open to the flow of people”.