When they take over Congress next year, expect the Democrats to launch investigations up the wazoo -- of big business, the Bush Administration, the Iraq War, and other things they don't particularly like.

These investigations will be a pain in the hindquarters for Republicans. But they'll be a boon for Biglaw. From TPMmuckracker.com:

In a recent memo to its clients, the white-shoe law firm of Covington and Burling warned of the increased investigative activity soon to come from the Dem-controlled Hill -- and touted its credentials for representing corporations and individuals who may find themselves under scrutiny....

Are you an executive at a telecom involved in the NSA's wiretapping program? Did your company get a sweet no-bid contract in Iraq? Well, Covington's soon-to-be booming "congressional investigations practice" boasts such luminaries as Lanny Breuer, who was President Clinton's Special Counsel during impeachment proceedings, and Robert Kelner, who has represented the RNC in the New Hampshire phone jamming case.

Gentlemen, start your retainers.

Interestingly enough, a number of the top white-collar shops in Washington are left-leaning. In addition to Covington, there's Williams & Connolly and WilmerHale, both well-stocked with former Clintonistas.

Expect partners at these firms to make generous donations to Democratic candidates in the next few election cycles. They're getting tired of being the "Administration-in-Exile" -- and they have high hopes for 2008.

(On that subject, we're still interested in getting your views on which leading liberal lawyers would be in the running for top jobs in a Democratic administration. We have our own thoughts on this, but we'd love to hear from you.)

Crusading Dems Mean Big Profits for Corporate Defenders [TPMmuckracker.com]
Memo from Covington Burling on Congressional Investigations [Talking Points Memo Document Collection]