It is crucial that lawyers have a strict ethical code, because of the outside impact they can have on the public. I.e., we have the power to cost people a great deal of money. Having law firms owned by nonlawyers will certainly make it more difficult to enforce ethical standards.
I wholeheartedly agree with Bob Grundstein. This is a terrible idea that would do nothing to improve the delivery of legal services to the residents and businesses of Vermont. The potential for conflicts of interest would increase and the public's opinion of the bar and the "rule of law" would be further damaged.
The legal system is primarily an ethical system of personal rights and distributive economic theory. The element of capital investment independent of ethics creates an even greater risk of the legal system becoming even more of a financial and political interest group than it is now. The risk of ABS should not be added.