tag:blogger.com,1999:blog-5164886390834386622.post3802629933028785340..comments2023-10-30T08:41:06.178-07:00Comments on Inside the Law School Scam: Trick or treatLawProfhttp://www.blogger.com/profile/05174586969709793419noreply@blogger.comBlogger88125tag:blogger.com,1999:blog-5164886390834386622.post-58574246049602376162013-02-23T00:22:42.107-08:002013-02-23T00:22:42.107-08:00Hi, Neat post. There is a problem along with your ...Hi, Neat post. There is a problem along with your web site in web explorer, would check this?<br />IE still is the market chief and a big element of other folks will leave out your wonderful writing <br />due to this problem.<br /><br />Also visit my website: <a href="http://roamer.co/MediaWiki/index.php?title=User:LeviEIC" rel="nofollow">what is a graduate certificate</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-3324938084037957992012-11-03T11:19:55.851-07:002012-11-03T11:19:55.851-07:00I'm not the person you know, but I have simila...I'm not the person you know, but I have similar credentials (plus a federal appellate clerkship) and do the same damn thing for a living. At least I did until I got so depressed last month (suicidally depressed) I couldn't do it anymore. Now what? At least the loans are paid off. I just cross my fingers that I find some medication that works so that I can go back to ghostwriting briefs for idiots.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-56240470435393883982012-11-02T05:29:36.364-07:002012-11-02T05:29:36.364-07:00BigLaw is fundamentally broken and is past due for...BigLaw is fundamentally broken and is past due for reform. This should surprise no one when:<br /><br />1. They overpay grunt labor by a factor of 4.<br /><br />2. They require grunt labor to work 60+ hour work weeks with diminishing returns in a system that rewards inefficiency and egocentrism.<br /><br />3. They overbill clients by a factor of 2+.<br /><br />4. Because of the pyramid, king-of-the-hill nature of partnership structures, they are constantly laying off people who are competent, know their clients' business, and can undercut them on prices.<br /><br />5. They recklessly spend money on the frivolities of power-elite businesses.<br /><br />6. They're maintaining the 1980s model of hiring instead of adapting to how the labor market is now. It's a buyers market for new associates and yet they're still pretending it's a seller's market. It's a disconnect from reality.<br /><br />7. Because of the business model, the top partners have a lot more mobility and a lot more power over the asset sheets than 98% of people in corporate boardrooms. A few key departures can kill a law firm of 200.<br /><br />That's a lot of instability and practices that are out of touch with the market reality. I have a hunch the market will triumph in the long run, either by internal reform, creditors demanding more security, regulatory agencies acting (Bar Assoc. - lol), having clients force changes upon them, or just flat-out losing business to midlaw.<br /><br />We've already seen a lot of mergers and closures. Thacher Proffitt, Howrey, Dewey LeBouef, etc., plus there are rumors about other firms being in trouble right now. Wouldn't shock me to see at least two more go by next summer.Craignoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-76432993586096610512012-11-02T00:15:07.486-07:002012-11-02T00:15:07.486-07:00Totally wrong. The schools will just flunk out mor...Totally wrong. The schools will just flunk out more weak students in the third year. This way they get almost three years of tuition money and the weak students are not able to sit for the bar exam and hurt the bar pass rate for the school.Coolerhttps://www.blogger.com/profile/15496441575037805849noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-31333420357032634542012-11-01T23:13:52.382-07:002012-11-01T23:13:52.382-07:00It may well be true that lawyers who are now near ...It may well be true that lawyers who are now near the end of their career made a lot more on average than non-JDs. But it's not at all clear that recent graduates will fare so well.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-41914821770333310562012-11-01T22:55:27.259-07:002012-11-01T22:55:27.259-07:00My point above was meant to support the idea that ...My point above was meant to support the idea that things are worse in biglaw than originally forecast by bankers. This year is flat to 2011. <br /><br />So 2013 - the question is:<br />will corporate demand come back? <br />and: if it does, will it come back in the same way...<br />note - not the same leverage from banks business as well as corporations bringing large parts of corporate transactional work in-house (something that GE Capital has done for decades)<br /><br />So how many years in a row of biglaw flat or single digit growth - do we need to have until we admit this model is broken/not recovering anytime soon?<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-5947309231971216152012-11-01T22:49:06.406-07:002012-11-01T22:49:06.406-07:00Has anyone mentioned the flat profits that biglaw ...Has anyone mentioned the flat profits that biglaw is facing this year (again)? How many years of flat profits does it take for people to understand that biglaw is not going to come booming back. Biglaw's banker has a "robust" list of firms he is concerned about going under or merging out of desperation. He stresses repeatedly the OVERSUPPLY of lawyers and how slow biglaw has been to react to the oversupply. He also mentions that offices around the world are not necessarily helping biglaw in this time of international recession and the slowdown in China, only a few of the magic circle firms who have been in place for a long time are doing well. <br /><br /><br />http://www.bloomberg.com/video/biglaw-banker-s-robust-list-of-firms-that-may-fail-glCIZT9EQkeYXhGTbboozg.html<br /><br />Watch the entire clip even though it is 14 minutes. He emphasizes the "profound difference from other recessions" and how deeply corporate work (outside of energy) has stalled.<br /><br />This was recorded before the hit that everyone will take financially from Sandy, the amount of which remains to be seen. There is work but it has a few weeks to still unwind to see what happens. I think it will slow greatly through the end of the year. (there could be pickup in real estate and municipal work but those don't really push biglaw for the most part.)<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-60697875401720690862012-11-01T22:00:48.347-07:002012-11-01T22:00:48.347-07:00"Look at the age spectrum of the women and mi..."Look at the age spectrum of the women and minorities inhouse"<br /><br />I have.<br /><br />You're wrong on this.<br /><br />Best of luck (etc.), but you're just plain wrong.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-23141366816333436182012-11-01T21:56:11.303-07:002012-11-01T21:56:11.303-07:00Here're the ONLY things you need to say to &qu...Here're the ONLY things you need to say to "business law prof" Anon and Buzz Leityear:<br /><br /> (i) The BLS that you so love to quote says there will be about 22K lawyer jobs each new year for at least the next 10 years.<br /><br /> (ii) Each new year, law schools in the US churn out 45K new lawyers.<br /><br /> (iii) Fit these numbers into your fantasies.<br /><br /><br /><br /><br />When Anon or Leiter say, "but but but, you can't extrapolate a whole 40+ year career from 9-month data, boo-boo-boo...", the only response should be:<br /><br /> (i) The BLS that you so love to quote says there will be about 22K lawyer jobs each new year for at least the next 10 years.<br /><br /> (ii) Each new year, law schools in the US churn out 45K new lawyers.<br /><br /> (iii) Fit these numbers into your fantasies.<br /><br /><br /><br /><br />When Anon and Leiter say, "but but but, 2011 is just a particularly bad year and you're being illogical to try to extrapolate from this one, mid-recession year", you say:<br /><br /> (i) The BLS that you so love to quote says there will be about 22K lawyer jobs each new year, for at least the next 10 years.<br /><br /> (ii) Each new year, law schools in the US churn out 45K new lawyers.<br /><br /> (iii) Fit these numbers into your fantasies.<br /><br /><br /><b>Lather.<br />. Rinse.<br />. Repeat.</b><br /><br /><br /><br />Buzzzz Killnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-2044606703302043102012-11-01T21:53:38.803-07:002012-11-01T21:53:38.803-07:00Sorry. Credit for this excellent post goes to DJM....Sorry. Credit for this excellent post goes to DJM. Anyway, you are a good team.SmallTownBoynoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-86078892865159909112012-11-01T21:41:15.203-07:002012-11-01T21:41:15.203-07:00Too funny. I had just read 7:53 and getting ready...Too funny. I had just read 7:53 and getting ready to google "Erica Labor", thinking it was some new term I didn't know... ...even had it highlighted to boot to Google when I say 7:54...Hilarious @7:53/7:54...noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-2449780273114597462012-11-01T21:21:49.961-07:002012-11-01T21:21:49.961-07:00"...are arguing passed each other."
Ser..."...are arguing <i>passed</i> each other."<br /><br /><i>Seriously?</i>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-66578473674073343102012-11-01T21:20:53.970-07:002012-11-01T21:20:53.970-07:005:29 - yes, I know where that stat comes from, and...5:29 - yes, I know where that stat comes from, and I sincerely hope that each time Anon pulls it from there, he wipes it off before he sticks it out onto the internet. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-37581697897022608552012-11-01T21:08:22.793-07:002012-11-01T21:08:22.793-07:00Notice the significant lack of trolling in this th...Notice the significant lack of trolling in this thread.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-71719607355608881142012-11-01T19:40:02.148-07:002012-11-01T19:40:02.148-07:00lol at the Lex Luther comparison, nailed itlol at the Lex Luther comparison, nailed itAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-90701872023454558112012-11-01T19:08:15.931-07:002012-11-01T19:08:15.931-07:00Profs who live in glass blogs don't allow comm...Profs who live in glass blogs don't allow comments...<br /><br />cas127noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-37330895673011675862012-11-01T17:58:02.637-07:002012-11-01T17:58:02.637-07:00JD without bar passage blames him/herself more tha...JD without bar passage blames him/herself more than the school.<br />Scam on!SmallTownBoynoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-41030920080837683222012-11-01T17:37:00.554-07:002012-11-01T17:37:00.554-07:00Assclown actually referred to this entry as "...Assclown actually referred to this entry as "a much-too-lenghty post.."<br /><br />Unlike his copied-and-pasted, see-I've-been-right-all-along rant? <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-80125904926292886442012-11-01T17:32:49.472-07:002012-11-01T17:32:49.472-07:00He's even bald - well, mostly.
And he lives i...He's even bald - well, mostly.<br /><br />And he lives in an impenetrable Fortress of Solipsism...<br /><br />cas127noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-4531859622952854262012-11-01T17:29:40.443-07:002012-11-01T17:29:40.443-07:003:35, anon does make that point frequently - a law...3:35, anon does make that point frequently - a law degree is actually a benefit to anyone because all JDs (attorneys and non-attorneys) make an average of $1 million dollars over their careers than do non-JDs. The only issue I have with this assertion is that anon never says where this stat is coming from.<br /><br />Seriously, does anyone know? And if this stat exists, why aren't law schools holding it up as proof that a law degree is versatile? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-81398623070514954242012-11-01T17:28:31.769-07:002012-11-01T17:28:31.769-07:00Agreed...
...we're talking Lex Luther Leiter ...Agreed...<br /><br />...we're talking Lex Luther Leiter here...cas127noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-2445585192132522822012-11-01T17:25:40.476-07:002012-11-01T17:25:40.476-07:0011:15, please answer 12:07's question.
Not t...11:15, please answer 12:07's question. <br /><br />Not that I think you will. It's obvious why most law school apologists (including anon) stick to posting anonymously in the comments sections of blogs even though, in their minds, the law school scam is a fiction. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-90755403777410870722012-11-01T17:25:38.234-07:002012-11-01T17:25:38.234-07:00Well beyond mere greed, well into calculated multi...Well beyond mere greed, well into calculated multi-decade deception, and currently being litigated whether or not it was "legal" fraud (as distinct from ethical fraud - which it certainly was).cas127noreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-16039826054965035402012-11-01T17:15:27.609-07:002012-11-01T17:15:27.609-07:00Even if it doesn't in this case, it has in oth...Even if it doesn't in this case, it has in others. He's said multiple times that all JD holders (lawyers and non-lawyers alike) benefit from the JD by earning $1m more than non-JDs over the course of their careers. I've asked him multiple times where he's getting this stat from, but he hasn't responded (unless I just missed it - he trolls all over taxprof's blog). Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5164886390834386622.post-75265206673390792572012-11-01T16:31:41.900-07:002012-11-01T16:31:41.900-07:00Every movement needs an embodied, a-moral adversar...Every movement needs an embodied, a-moral adversary.<br /><br />Thanks Brian Leiter.Anonymousnoreply@blogger.com