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[quote=Anonymous][quote=Anonymous]It's pretty obnoxious to criticize OP for what s/he didn't know about the legal market 10 years ago. That was before Howrey, Dewey, the scam blogs, etc. and the industry was damn good at hiding its myriad weaknesses. [/quote]

15:53 here,

I disagree that its obnoxious, and it wasn't intended to be, in any case.

A good many people in the legal profession saw the structural weaknesses prior to 2003 (10 yrs. ago) and were appropriately wary.

I don't say that one should have a crystal ball, or that one is an idiot for not seeing what was going to happen.  But I and others including friends in both large and smaller firms (including owners of smaller firms that refused the temptation to buy into the BigLaw mirage by merging when they were serially courted) could see what was happening.

We aren't geniuses and we didn't know when or how it would play out but it was not a completely hidden thing, we were talking about the massive overleveraging of firms in the mid-1990s.

I have great sympathy for all who are going through this.  It's wrenching.  It's not fair.  And it can be very arbitrary and painful.[/quote]

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