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True, encryption probably wouldn't help, but you could probably come up with a scheme to watermark the messages. You could make it look like the same thing was sent a large CC list, but be able to determine the source of the leak by a changed word or two. Makes you wonder if some of these smart people are already doing it.

This technique has been used for a while, and it's widely known. It's "easy" to defeat, you need to ask someone else for a copy, and match its contents/changes with the copy from the original leaker.

I don't mean to say it's a bad idea, and it's standard practice in enterprise environments, but it's no silver bullet either.

Plus, to align with parent messages, it won't prevent leaking, it just helps to identify the person.

This email makes the sender look good. The last leaked email made the sender look good. Work out who is leaking them.

the recipients

Or the senders, encryption being equally useless in that case, as well.

No, but their assistants or someone else might be getting to them. Who knows.