here's a snippet of real class discussion regarding taxation of income generated from illegal activities, specifically drug traficking:
"s* would know all abt that... because he's in the jd/mba program...... umm, i don't mean the drugs part, i mean the business part..."

there may have been some drugs involved at some point. i can't totally rule that out.
but the prof is prone to making comments like that. he'll make wise-crack jokes followed by a good 10 secs of silence as he searches the room for a sniker or even a smile. goofy times.