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California Bankruptcy; Full Employment Act for U.S. Lawyers?

By Joseph McDaniel, Esq.

Unless you are a hermit, you have some relative someplace who just graduated from law school.

You know that because of the tear-stained letters begging for money so the new graduate can buy cheese and crackers. Because he ain't gettin' a job anytime soon.

Lawyers in the United States (I'm not talking about personal injury lawyers, or medical malpractice lawyers with established practices; apparently there's plenty of work suing companies that try to make medicines, and suing doctors who try to make people healthy) have recently gone through tough times.

And that simply makes sense; lawyers have the same economic relationship to businesses and people that fleas have to dogs. When the dog is fat, life is good, if you're a flea. When the Purina gets scarce, fleas suffer.

And so it is with lawyers, which is why I built a blog for Baby Lawyers, and for Big-Time Lawyers who previously had a corner office at the top of the Rich, Greedy and Powerful Tower. And who had to learn to fly when his partners pushed him off, because there was no work for him and his billable hours.

Kinda like what happens when there are two baby eagle chicks, and only enough food for one; it's ugly. I know. I watch The Nature Channel.

On the other hand, if you're a bankruptcy lawyer in Arizona right now, there is a lot of work, because a lot of people are out of work!

I'm not talking about an instant bankruptcy expert attorney (who was a divorce attorney last week!) or a bankruptcy mill, or a casual bankruptcy lawyer who files one bankruptcy petition a month as a favor, so he doesn't bother to keep up with the rushing changes in bankruptcy law.

But for a grizzled veteran of the bankruptcy wars in Arizona, it is a busy time, because a lot of people need to know about the bankruptcy exemptions in Arizona, and the First Meeting of Creditors in Arizona, and the Bankruptcy Discharge in Arizona. And they also wonder how long this thing is going to take!

And I've been asking myself, what could be good about the huge increase in Bankruptcy Filings in the United States?

The answer kept coming back, "Nothing!"

Then it dawned on me that the bankruptcy of a State like California will keep attorneys all over the United States in kibble for the next twenty years!

Except, of course, that much of the work on the Great California Bankruptcy Gold Rush will probably be...outsourced to India!

Irony, neh?

Full post as published by Arizona Bankruptcy Attorney Blog on January 22, 2011 (boomark / email).