Class of 2013 will be part of the "Lost Generation"

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TTTGrad
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Class of 2013 will be part of the "Lost Generation"

Postby TTTGrad » Sun Jun 06, 2010 2:26 pm

Kids, you may want to reconsider your terrible decision to attend law school. You are better off gambling $150K in Vegas than giving it to the greedy law school cartels. At least you can discharge the $150K gambling debt in bankruptcy, unlike student loans that will follow you to your grave.

Here are three timely stories from law.com, NYTimes and the Chicago Tribune. There is still time for some of you kids to avoid the 3 year disaster that awaits you starting in August.

Law grad with honors now living at home being supported by wife since Biglaw rescinded his offer:

http://www.dispatch.com/live/content/bu ... ml?sid=101

Tier 1 law students in NYC struggling on $9/hr jobs while working "greeter" jobs:

http://www.law.com/jsp/law/careercenter ... ummer_Jobs

Gambling debts are dischargeable, student loans will remain until fully repaid or you are 6 feet under:

http://www.nytimes.com/2010/06/05/your- ... money.html

I am sure most of you kids will disregard the warning signs. I am sure most of you think you are the lone excpetion to an inevitable miserable future. Let me know how that works out for you in 3 years.

06132010
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Re: Class of 2013 will be part of the "Lost Generation"

Postby 06132010 » Sun Jun 06, 2010 2:26 pm

thanks for showing us this novel information.

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Barolo
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Barolo » Sun Jun 06, 2010 2:27 pm

Thanks for the encouragement!

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JordynAsh
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Re: Class of 2013 will be part of the "Lost Generation"

Postby JordynAsh » Sun Jun 06, 2010 2:35 pm

Sorry about your tiny pink class rank, bro.

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OGR3
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Re: Class of 2013 will be part of the "Lost Generation"

Postby OGR3 » Sun Jun 06, 2010 2:40 pm

At least when I'm unemployed I'll be able to troll TLS all day!

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Kilpatrick
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Kilpatrick » Sun Jun 06, 2010 2:41 pm

You already have a thread with this exact same title and you got laughed out of that one. Why would this one be different?

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General Tso
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Re: Class of 2013 will be part of the "Lost Generation"

Postby General Tso » Sun Jun 06, 2010 2:46 pm

How is the electrician business going Mr. Bullock? :lol:

So I am thinking of dropping out of school to become a dooky truck driver. Good idea?

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somewhatwayward
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Re: Class of 2013 will be part of the "Lost Generation"

Postby somewhatwayward » Sun Jun 06, 2010 2:48 pm

none of those articles are about the class of 2013

LoyolaLaw2012
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Re: Class of 2013 will be part of the "Lost Generation"

Postby LoyolaLaw2012 » Sun Jun 06, 2010 2:48 pm

Booorrrrriiiiinnnnggggg

06132010
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Re: Class of 2013 will be part of the "Lost Generation"

Postby 06132010 » Sun Jun 06, 2010 2:49 pm

somewhatwayward wrote:none of those articles are about the class of 2013


TTT grads can't read good.

DanInALionsDen
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Re: Class of 2013 will be part of the "Lost Generation"

Postby DanInALionsDen » Sun Jun 06, 2010 2:51 pm

I don't understand the point of these threads you keep posting--as if people are going to rethink their choice to attend law school because some guy who says he went to a "top 25" (but won't even say which one) calls them kid and tells them they're making a huge mistake. You're not going to change anyone's mind.

Obviously you're unhappy with your own legal career, and you're compensating for that by telling ambitious 20-somethings that they will fail. You seem to get some kind of gratification out of all this, which is bizarre.

Kobe_Teeth
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Kobe_Teeth » Sun Jun 06, 2010 2:57 pm

somewhatwayward wrote:none of those articles are about the class of 2013



Though he may be right, I'm not sure how these articles prove that.

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Aberzombie1892
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Aberzombie1892 » Sun Jun 06, 2010 3:26 pm

The articles themselves were simply written to dissuade 0L's from attending law schools at full price (or close-this varies; i.e. some public schools out of state charge $40,000 or private schools in the T1 that are $40,000).

While I don't know about the OP, 0L's should take notice of the situation.

I understand that the articles did not mention paying "full price" by name, but when the discussion turns to loans you can see that these students took out far more than they should have.

I once read a website that said that you should not take out more in loans for a degree than you expect to make your first year out. If you aren't T14+V, you shouldn't take out more than $100,000 using that theory (including living expenses). If you are like "ppppsssshhh what?" You should retake the LSAT so you can get a bigger scholarship from the school you want to go to.

TTTGrad
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Re: Class of 2013 will be part of the "Lost Generation"

Postby TTTGrad » Sun Jun 06, 2010 3:27 pm

I call most of you kids because you don't know what awaits you and the majority of you are led by blind faith. None of these articles relate to the Class of 2013 but most of you seem to be gambling that by 2013 everything will be ok and the Classes of 2009, 2010, 2011 and 2012 will be thrown under the bus to make way for the Class of 2013. That is naive thinking. The legal market picked up 300 jobs in May and some of you are giggling that this is a sign that Obama's green shoots are starting to sprout everywhere. By the way, the 300 jobs were mostly temp jobs in document review. The associate positions that have been reduced by this recession will not be coming back. The biglaw model is changing because it is flawed. Unfortunately, most lawyers are mathematically challenged in the areas of finance. I suppose law students are no different.

As for my time, I don't have to account for it. I am independently well off and could retire tomorrow if I wanted to. The legal career served me well but times have changed. A colleague's kid just graduated from CLS without a paying job. I suppose for employment purposes that person is employed even though it is a volunteer position. I resent what the ABA, NALP and law schools are doing to America's youth. The lies have to stop. Perhaps your collective failures will serve a more poignant example for future college grads to avoid law school.

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vanwinkle
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Re: Class of 2013 will be part of the "Lost Generation"

Postby vanwinkle » Sun Jun 06, 2010 3:30 pm

TTTGrad wrote:I call most of you kids because you don't know what awaits you and the majority of you are led by blind faith.

You sound like you attended the George W Bush School of Attacking Non-Existent Strawmen and graduated with honors.

theghostofDrewTate
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Re: Class of 2013 will be part of the "Lost Generation"

Postby theghostofDrewTate » Sun Jun 06, 2010 3:32 pm

TTTGrad wrote:Kids, you may want to reconsider your terrible decision to attend law school. You are better off gambling $150K in Vegas than giving it to the greedy law school cartels. At least you can discharge the $150K gambling debt in bankruptcy, unlike student loans that will follow you to your grave.

Here are three timely stories from law.com, NYTimes and the Chicago Tribune. There is still time for some of you kids to avoid the 3 year disaster that awaits you starting in August.

Law grad with honors now living at home being supported by wife since Biglaw rescinded his offer:

http://www.dispatch.com/live/content/bu ... ml?sid=101

Tier 1 law students in NYC struggling on $9/hr jobs while working "greeter" jobs:

http://www.law.com/jsp/law/careercenter ... ummer_Jobs

Gambling debts are dischargeable, student loans will remain until fully repaid or you are 6 feet under:

http://www.nytimes.com/2010/06/05/your- ... money.html

I am sure most of you kids will disregard the warning signs. I am sure most of you think you are the lone excpetion to an inevitable miserable future. Let me know how that works out for you in 3 years.


Actually, failure to repay gambling debts in Nevada is a crime. Good luck discharging those in bankruptcy while you're sitting in the joint. At least these kids will have a shot at discharging their debts without going to jail if Uncle Sugar comes through with some sort of relief bill funded by yours truly to continue to create incentives for risky behavior.

As someone in biglaw, I'd say if you're going to a really good school and get good grades, C/O 2013 should end up okay given the recent pickup in transactional activity. But I want to qualify my definition of okay to make sure you know it means working until 3:30 in the morning on Saturday on occasion and getting crapped on virtually every 3 day weekend on the calendar. But it beats eating out of dumpsters.

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romothesavior
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Re: Class of 2013 will be part of the "Lost Generation"

Postby romothesavior » Sun Jun 06, 2010 3:35 pm

Mods, what is the rule on re-posting? He already started this exact thread. This guy is getting really old.

Dude, everyone knows the market will not be great when we get to OCI, and we all know how bad things have been for the last two classes. Most of the people on here realize that taking out a lot of debt to make a lot of money in law is a bad idea. But saying that c/o 2013 will have it as bad as the the recent classes isn't based on anything but pure conjecture, and those articles you posted have nothing to do with our class.

And guess what? Some of us actually *gasp* WANT TO BE LAWYERS! That requires going to LAW SCHOOL.

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Kilpatrick
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Kilpatrick » Sun Jun 06, 2010 3:36 pm

The thing that makes all your posts stupid is that you are preaching to the converted here. Watch the next time somebody posts asking for advice about going to a T4 at sticker or some similar situation. The regular posters on TLS are extremely well informed, we've done the research on this. We know the economy is shit and that the legal profession is not likely to recover any time soon. If anything, maybe you could say we are cautiously optimistic that things might be better by the time the class of 2013 is looking for jobs. But there is NOBODY here that thinks everything is great and we're all going to get jobs. The reason you get attacked whenever you post here is 1. your condescending asshole attitude and 2. we already know everything you're telling us. So, seriously - go find something better to do.

Tautology
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Tautology » Sun Jun 06, 2010 3:40 pm

romothesavior wrote:And guess what? Some of us actually *gasp* WANT TO BE LAWYERS! That requires going to LAW SCHOOL.


No way, we all only applied to law school because we heard it's a really easy way to get rich.

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Dead Ringer
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Dead Ringer » Sun Jun 06, 2010 3:48 pm

This just has to end sometime.

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Bildungsroman
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Bildungsroman » Sun Jun 06, 2010 3:51 pm

I thought this thread would be about the tv series. I am very disappointed.

OP: people might respond to you better if you didn't asshole-ishly refer to everyone as "kids".

TTTGrad
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Re: Class of 2013 will be part of the "Lost Generation"

Postby TTTGrad » Sun Jun 06, 2010 3:51 pm

Kilpatrick wrote:The thing that makes all your posts stupid is that you are preaching to the converted here. Watch the next time somebody posts asking for advice about going to a T4 at sticker or some similar situation. The regular posters on TLS are extremely well informed, we've done the research on this. We know the economy is shit and that the legal profession is not likely to recover any time soon. If anything, maybe you could say we are cautiously optimistic that things might be better by the time the class of 2013 is looking for jobs. But there is NOBODY here that thinks everything is great and we're all going to get jobs. The reason you get attacked whenever you post here is 1. your condescending asshole attitude and 2. we already know everything you're telling us. So, seriously - go find something better to do.



If you can't handle condescending attitudes and assholes, then you are in the wrong profession. Grow a tougher hide plebe. You say you have done the research. Yes I am sure you read a few books and articles. Good for you. Have you done any empirical research? Have you talked to recent grads, law firm HR managers or legal recruiters? Or do you take what your law school says as gospel? You have the true makings of a lemming. See this is the problem I forecast in the future. Many of you will be crying for a student loan bailout when you can't find jobs that will enable you to lead a normal life while serving your non-dischargeable student loans. I would sympathize for a bailout for the Classes of 2009 and 2010 moreso than the subsequent classes. At least the classes after 2010 had prior knowledge of the anemic economy and took the gamble/plunge anyway. That is reckless behavior that does not merit any taxpayer empathy or bailout.

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Kilpatrick
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Kilpatrick » Sun Jun 06, 2010 3:54 pm

Plebe? Ohhh. I took you seriously for a minute. Now I feel dumb. Good flame.

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SwollenMonkey
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Re: Class of 2013 will be part of the "Lost Generation"

Postby SwollenMonkey » Sun Jun 06, 2010 4:01 pm

TTTGrad wrote:Kids, you may want to reconsider your terrible decision to attend law school. You are better off gambling $150K in Vegas than giving it to the greedy law school cartels. At least you can discharge the $150K gambling debt in bankruptcy, unlike student loans that will follow you to your grave.

Here are three timely stories from law.com, NYTimes and the Chicago Tribune. There is still time for some of you kids to avoid the 3 year disaster that awaits you starting in August.

Law grad with honors now living at home being supported by wife since Biglaw rescinded his offer:

http://www.dispatch.com/live/content/bu ... ml?sid=101

Tier 1 law students in NYC struggling on $9/hr jobs while working "greeter" jobs:

http://www.law.com/jsp/law/careercenter ... ummer_Jobs

Gambling debts are dischargeable, student loans will remain until fully repaid or you are 6 feet under:

http://www.nytimes.com/2010/06/05/your- ... money.html

I am sure most of you kids will disregard the warning signs. I am sure most of you think you are the lone excpetion to an inevitable miserable future. Let me know how that works out for you in 3 years.


This post makes so many assumptions, it's ridiculous. If you are that concerned, go to the ABA with some form of legal action indicating that they stop erecting law schools until the economy improves and lower-ranked schools can provide a competitive education. You are really barking at the wrong end of the argument.

Fark-o-vision
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Re: Class of 2013 will be part of the "Lost Generation"

Postby Fark-o-vision » Sun Jun 06, 2010 4:15 pm

I like the generalization TTTGrad does. Most people on this site, it seems, are either getting substantial scholarships at riskier schools, or attending schools with decent odds. Is it gambling? Sure. Are many of us already faced with years of unemployment/underemployment due to our undergraduate degrees, many of which were sought simply to proceed to the JD? Absolutely. For a lot of us, this situation blew up after we were dedicated to this track. It's hard, Junior year of undergrad, to decide that you're suddenly going to become an engineer, or a Doctor.

The assumption that we decided this year to become lawyers=Fail.

The assumption that we have better options= fail.

If you have 20K in undergrad loans and you're a humanities major you're still going to be on IBR for twenty years, or whatever. At least, for 90% of them.




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