THINGS LAWYERS DO: PUTTING FEATHERS ON THE DOG.

THINGS LAWYERS DO: PUTTING FEATHERS ON THE DOG. A wonderful draftsman I knew used to say from time to time about trying to draft so that an entity was—as an example– one thing for tax purposes and another for regulatory purposes or for accounting purposes: “I’m just trying to put enough feathers on this dog so I can call it a bird.” You could think of FNMA and Freddie Mac of a couple years ago as dogs with feathers.