Harvey is an arrogant prick. He can't empathise with Mike - who panicked in a hard situation. Big deal. Instead, while going on about all his loyalty nonsense - he's planning a coup to take down Jessica. And Mike feels he owes Harvey so much for hiring him - Harvey has plainly admitted that the only reason he helped…

Took me a while too - but I think the name is a reference to both the garment and also the abbreviation of the word lawSUIT(S). (: