Will Brexit Screw Us? Forum

[North]

This profession makes me a nervous fucking wreck.

[TheoO]

I have never so regretted law school

[Desert Fox]

This isn't even 1/10th as bad as the financial crisis, unless this starts one in Southern Europe.

[dailygrind]

This isn't even 1/10th as bad as the financial crisis, unless this starts one in Southern Europe.

Yeah. I get being slightly worried, but this isn't a panic worthy event yet.

[TheoO]

This isn't even 1/10th as bad as the financial crisis, unless this starts one in Southern Europe.

Yeah. I get being slightly worried, but this isn't a panic worthy event yet.

Law for me so far has been like flying. I'm scared of it generally, but every moment of turbulence just makes me think I'm headed for a crash.

[dailygrind]

Gotta keep it chill, brotherman. Your nerves gotta last you 50 more years.

[Johann]

Note to 0Ls - if you are risk averse and don't have balls of steel, you should perhaps look at some of this worrying (by people not even practicing yet) and consider the stress factor as to why people get paid 180K.

Note to 3Ls freaking out - everything is fine.

Note to everyone - this is why you should consider PAYE. thanks to PAYE, i wont even be freaking out after france and germany leave the EU in the next coming months.

now time for me to leave work early since i have no work to do.

[Pomeranian]

Thanks Brits! The last thing the economy needed was more uncertainty and the possibility of the EU unraveling.

The world economy is teetering on the edge right now with the U.S. getting disappointing economic data after disappointing data. The only thing keeping the U.S. from entering a full blown recession is trillions of cheap money pumping by the Federal Reserve (bubble anyone?). This won't end well!

[North]

Law for me so far has been like flying. I'm scared of it generally, but every moment of turbulence just makes me think I'm headed for a crash.

Yup, similar feelings. I'd analogize it having a winning lotto ticket, but being 4 months of dangerous travel away from the lottery office (which is also dangerous and only offers annuity payout). And the lotto ticket cost 250k and you took out a loan for it.

[Anonymous User]

Will the Magic Circle firms be particularly f'd? Is there any reason to think this could boost revenue in the short term given that there will probably be a lot of corporate work for many British clients?

[Desert Fox]

Law for me so far has been like flying. I'm scared of it generally, but every moment of turbulence just makes me think I'm headed for a crash.

Yup, similar feelings. I'd analogize it having a winning lotto ticket, but being 4 months of dangerous travel away from the lottery office (which is also dangerous and only offers annuity payout). And the lotto ticket cost 250k and you took out a loan for it.

lol at biglaw being a lotto ticket. just lol

[Johann]

Will the Magic Circle firms be particularly f'd? Is there any reason to think this could boost revenue in the short term given that there will probably be a lot of corporate work for many British clients?

of course there is. shitloads of regulations are changing, which will require tons of legal work. people here are just so scared of change because risk averse law students.

[Rlabo]

I imagine for anyone doing lit though, this will, if anything, create more work

[TheoO]

Will the Magic Circle firms be particularly f'd? Is there any reason to think this could boost revenue in the short term given that there will probably be a lot of corporate work for many British clients?

of course there is. shitloads of regulations are changing, which will require tons of legal work. people here are just so scared of change because risk averse law students.

I have a friend at a magic circle firm and they don't seem very worried. They already do a lot for cross border work with Europe and this will just mean more work for them. It's going to be slow for a bit, though.

[Johann]

Will the Magic Circle firms be particularly f'd? Is there any reason to think this could boost revenue in the short term given that there will probably be a lot of corporate work for many British clients?

of course there is. shitloads of regulations are changing, which will require tons of legal work. people here are just so scared of change because risk averse law students.

I havery a friend at a magic circle firm and they don't seem very worried. They already do a lot for cross border work with Europe and this will just mean more work for them. It's going to be slow for a bit, though.

exactly and i agree. things might be slow for a few months while dust settles but then there will be plenty of work. that's how law works. this is nothing like the 2008 crash. S&P hit an all time high after hours yesterday. We are 3.5% off of that; not 50% like in 2008. Businesses will need to be restructured, litigation will ensue, this is the best time to be a lawyer since 2007 still minus a couple months in summer 2014.

[Anonymous User]

The truth is even if it led to massive layoffs, some fucker who otherwise would have been laid off 2-3 years down the road will develop niche expertise in these new retarded British regs and be treated like Dirk Diggler.

[Anonymous User]

It's going to create a lot of interesting situations for people in biglaw. For example, at my old firm, we were representing a defendant in a global cartel case, and the defendant was using a London-based firm to defend it before the EC. What happens now? Can they even represent a defendant before the EC anymore? To the extent that negotiations over the penalties are ongoing, I would think that the EC would now have to exclude sales to the UK, and the UK would have to prosecute a case against the cartel itself for UK-related sales.

[bearsfan23]

Will firms cut summer classes/ax 3L OCI over this?

Yes