More on Andersen from the ABA

The most recent ABA Journal contains analysis on Andersen. The conclusion:

the court’s unanimous decision in Arthur Andersen v. United States, No. 04-368, is expected to have relatively little impact on criminal prosecutions for corporate wrongdoing, or how companies, their accountants and lawyers follow document-retention policies.

What do they mean? Well, the article continues:

"For most folks, the real issue is the civil discovery question and the fact that retrieval of electronically stored information can be so costly if you don’t have a retention system that makes backup information easily accessible," [Myrna S.] Raeder says. "The reversal of Arthur Andersen gives some breathing room to counsel in terms of criminal liability, but it doesn’t solve the civil problem, and it doesn’t prevent the government from using other statutes that are even more restrictive."

My point exactly.