Likelihood of Success

Ron Coleman’s pretty good blog

Existential angst for big law firms?

Posted by Ron Coleman on November 20, 2008

Or just some bad lobster?  Bruce McEwen asks, apropos “BigLaw” — the major law firms whose profitability and hourly rates seem always to be immune from economic reality:

If the US Treasury is a major stockholder in major financial institutions, how will that change the dynamic of how premium-level legal services are bought and sold? Not to be facetious about it, but how would you feel to be called before Barney Frank to justify your $950/hour rates?

Not facetious at all.

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