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There's an old joke whenever some new law is passed: “That's a ‘full employment act’ for lawyers!” Hilarious, right? In law school, I heard different professors make this crack in reference to the Bankruptcy Code,
- $700 billion bailout bill
- The prospect of major corporations suing financial institutions
- The Truth in Lending Act
- The backdating scandal of 2007
- The subprime collapseThe quest for a global RFID standard (You know, the radio-frequency identification used in enterprise supply chain management)
The joke is meant to be a self-mocking reminder that lawyers make lemonade from lemons. But for current students and young associates, the premise is increasingly obsolete.
-posted by brian
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