* A South Carolina jail is being investigated by the Justice Department for allowing its inmates to read only the Bible. Instead of a joke, how about you goofballs learn something and read this article that Christopher Hitchens wrote about the King James version of the not-quite-great book. [Charleston Post and Courier]
* DOMA dude Paul Clement filed his first brief as lead counsel for 26 states seeking to nullify Obamacare. In a land of socialist, freeloading, hippie queers, one man stands alone. [Atlanta Journal Constitution]
* Actually, that’s not true — The Cooch has Clement’s back (twhs), Tweeting all the misspelled and hilarious punchlines that are fit to print. [The Virginian-Pilot]
* Eric Holder defended the legality of the Osama killing on Capitol Hill yesterday. In prepared remarks, he said, “If history has taught us anything, it’s that you can kill anyone.” [CNN]
* I don’t want to intrude on Lat’s beat here, but Ponzi schemer Scott Rothstein’s pad sounds pretty nice. Bet it even has a foyer, whatever the hell that is. [WSJ Law Blog]
* Irving Picard has asked a judge to allow him to start making disbursements to Madoff’s victims. Victims stand to receive a coupon book valued at over 200 dollars, a free subscription to Cat Fancy, and a lifetime’s supply of Spanx for Men. [Reuters]
* Chris Simms, guilty of poor quarterbackery, was found not guilty of smoking drugs and driving. [New York Post]
* The poster state for Planned Parenthood may be picking a fight with the Obama administration over funding Planned Parenthood. [Los Angeles Times]
* Yesterday, Justice John Paul Stevens delivered a speech on the need for legal representation of immigrants. Es muy importante. ¿Puedo ir al baño? Gracias. [New York Times]
* Justice Stevens also criticized a recent Supreme Court decision on prosecutorial misconduct in his speech. Said the current Court is one bowtie short of a… then he trailed off. But he’s pretty sure they got what he was saying. [WSJ Law Blog]
* This profile of “court-appointed bloodhound” Irving Picard fails to delve deeper into the dog/man hybrid and its potential to wreak havoc on our nation’s animal shelters. [Salt Lake Tribune]
* Alabama may be close to enacting an “Arizona-style law cracking down on illegal immigrants.” I suggest they wait until the rebuilding efforts are completed. Just saying. [Fox News]
* An extremely detailed breakdown of the temporary stay ordered last Friday in the NFL labor dispute. For a slightly less detailed breakdown of the NFL labor situation (along with an amazing picture imagineered by yours truly), click here. [SI.com]
* Sammie Alito refused to intervene in the Corps of Engineers’ plan to blast a levee and flood Missouri in an attempt to alleviate flooding concerns elsewhere. Reached for comment, Alito said “No, I own an iPod. What are you talking about?”. [BusinessWeek]
I graduated from Northwestern Law in 2009. It is now 2011, my loans are coming due (real due — not the fake, put ‘em in forebearance, due of yesteryear), and I am currently “employed” doing two things: reviewing documents at an embarrassing hourly wage on projects that start and stop without any sort of consistency, and writing “jokes” about the Microsoft Zune every weekday morning, every other week. To borrow from David Foster Wallace, this is water.
And so it is with a sick sort of pleasure that I read Professor Paul Campos’s very interesting piece on The New Republic website yesterday. Coupled with Elie’s post on the Biglaw bloodletting, the article tells me what I’ve wanted to know and, in fact, what I’ve been telling my mom for two years now. Namely, that MJ was right. I am not alone.
What is the true state of unemployment for law school graduates? Professor Campos has crunched some numbers….
Earlier this evening, U.S. District Judge Susan Richard Nelson (D. Minn.) ordered an end to the NFL lockout. Football is back on! Maybe! Or not! Not at all? Who knows?!?!?!
Yes, Judge Nelson ordered an end to the lockout today. Watching ESPN is like a trainwreck for those who crave certainty in their news reports. The NFL has already said it will appeal and seek a stay of Judge Nelson’s ruling.
If a stay is granted, well… we’re back to the lockout status quo. If a stay is not granted, then all hell will break loose and the NFL will be broken up into a bunch of Baby Bells? I think? I think that’s the implication of all the antitrust stuff that’s floating around?
* Attorney Jason Goldfarb pleaded guilty to securities fraud and conspiracy yesterday in a case that originated with the Rajabba investigation. Here’s his firm website photo. [WSJ Law Blog]
* Harvard Law is being investigated for violating Title IX. As someone who did not attend Harvard, I assume IX rhymes with sticks. Which brings me no closer to understanding exactly what was violated here. [Harvard Law Record]
* The Bonds trial ended just in time for us to get super-psyched about the Roger “Frosted Tips” Clemens perjury trial. Let’s start boning up on it! [Reuters]
* Mexico is considering filing a lawsuit against U.S. gun manufacturers. Poor Mexico, so far from God and so close to Remington. [CBS News]
Frank and Jamie McCourt, in happier days.
* Here’s a thorough breakdown of the McCourt mess, including details on the ongoing Bingham divorce debacle. [Am Law Daily]
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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