Unfortunately, the one DC lawyer who needs to be unemployed the most still has almost four years left on his engagement.
Posted on 03/09/2009 11:08:37 AM PDT by Zakeet
Across the country, the recession is putting increasing pressure on law firms to slash spending and discount their services. Client demand for lower prices is prompting firms to outsource some of their document work to India, hire more temp or contract lawyers, shift from billable hours to fixed fees and eliminate staff.
[Snip]
More than 60,000 people work in the legal profession in the Washington area, which, per capita, employs more in that sector than any other metropolitan region in the nation. Much of the work centers on the federal government, providing stability and steady work for many lawyers. But because so many global law firms have offices here, the local legal sector is subject to the same economic turmoil seen around much of the country. Experts say the changes across the country are unprecedented and are hitting the bigger firms in particular.
Unlike previous recessions, during which lawsuit filings increased, litigation this time is down sharply because the credit crunch is forcing corporations to curtail their legal spending, experts said. Partners are being de-equitized, associates fired, practice areas phased out, and some large firms are closing.
[Snip]
Legal services generate about $135 billion a year nationally, representing about 1 percent of the gross domestic product. From 2004 to 2007, the latest year for which government data are available, spending in the profession grew annually from 6.1 percent to 7.7 percent. In comparison, the GDP as a whole grew only by about 3 percent annually during that time.
(Excerpt) Read more at washingtonpost.com ...
Unfortunately, the one DC lawyer who needs to be unemployed the most still has almost four years left on his engagement.
As an insurance defense attorney, my husband says that you can always tell when economic times are bad because his business goes crazy. It is all the people looking for “free money” by suing. He hiring.
Anything that reduces the number of lawyers roaming around, isn’t all bad. This country is awash in lawyers and that is part of our problem.
Not a bad time to be doing defense work so long as you’re not working for the carriers under water...
My solution to the problem is to shoot 75 percent of them and let the other 25 percent clean up the mess. That should keep them busy and out of our pockets for a while.
Is this article trying to make you feel sorry for lawyers? From the article:
“From 2004 to 2007, the latest year for which government data are available, spending in the profession grew annually from 6.1 percent to 7.7 percent. In comparison, the GDP as a whole grew only by about 3 percent annually during that time.”
From another source on 2008:
Total legal spending increased by 5% in the U.S and by 3% worldwide. The four previous Surveys reported total legal spending growing at a rate of 6-7% in the U.S. Total legal spending per lawyer in the U.S. and worldwide is over $1 million.
http://www.hildebrandt.com/Documents.aspx?Doc_ID=2732
There are far too many lawyers in the US. They create enormous burdens on the productive members of society. This legal spending data does not reflect the cost of people and businesses who are forced into bankruptcy, the cost of malpractice insurance for doctors and the lost productivity due to the enormous time and effort complying with legal requirements. The trial lawyers are politically connected and are parasites helping to destroy our economy.
I would add a second section to that:
close all of the law schools in the country for at least 10 years.
Lawyer bump for later.............
This country is awash in lawyers and that is part of our problem.
Amusingly, people made you claim while also claiming that lawyers were overpaid. Supply and demand seems to disagree.
This nation could EASILY take a million of its lawyers and convert them to something useful and constructive like plumbers, accountants, electricians or 7-11 counter help, and not miss a beat.
No that is wrong. The country would not just, not miss a beat, it would be greatly improved.
close all of the law schools in the country for at least 10 years.
Close the law schools for 20 to 30 years.
A necessary evil, eventually the number of lawyers will dwindle.
“Close the law schools for 20 to 30 years.”
Pass a National Law Insurance Act. Change the laws making it easy AND profitable to sue lawyers for malpractice.
“close all of the law schools in the country for at least 10 years.”
a better idea: rewrite the laws to make them simpler, fewer. A flat tax would make a big difference.
That might work.
Close the law schools for 20 to 30 years.
A necessary evil, eventually the number of lawyers will dwindle.
How do you think tyrants would fell about “killing” all the lawyers? (Check out Shakespeare for the answer).
You can sue lawyers for malpractice now. It happens a lot. Also you can make complaints to the bar of their state. Furthermore, there are sanctions available in Court for instances of frivolous or harrassing behavior.
There is a great deal of anti-lawyer populism that fires people up but which stretches the truth.
But did Obama ever actually practice law?
Their fees would go up, due to fewer lawyers. But with fewer lawyers, we actually see a decline in litigation.
Tyrants kill anyone who is a danger to that tyrant.
the culture of suing anyone who looks at us cross-eyed, has to stop. as long as there is a surplus of lawyers running around, it won’t. tort reform is a joke, because the lawyers who are judges will just rule against it.
I have no love for lawyers, I’ll admit that.
I'm an insurance fraud investigator...your husband is absolutely correct.
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