I’m somewhat reluctant to criticize other people’s bad financial decisions, having made so many atrociously dumb decisions in my own life. My financial stupidity isn’t even in the past tense — I have a brand-new PS4, but I’m waiting until the new year when my Flexible Spending Account resets to go to the doctor.
On the other hand, sometimes it takes an idiot to spot an idiot (I just made that up). At the very least, I’m somewhat uniquely qualified to identify which financial mistakes are “common” among the financially illiterate, versus the mistakes that take a special kind of dumb.
There are a few articles making the rounds today: there’s a Salon article trying to explain why law schools are comfortable scamming their students, and there’s a Forbes article making the stupid “now is a good time to go to law school” argument (which should make smart people roll their eyes). We’ve been down those roads before.
But we also have an article from a guy who says law school was the start of his financial downfall. He doesn’t blame law school, which is good, because I’m pretty sure he’s got nobody else to blame besides himself. And maybe his ex-wife….
* Judge Victor Marrero orders MF Global to pay over $1 billion to customers. Serves those MFs right. [CNBC]
* The Second Circuit has punted on the question of whether defunct firms in New York have an ownership right to fees earned by former partners who took work to new firms. [Am Law Daily]
* Howard Morris, the former co-chief executive of SNR Denton, is joining MoFo as the head of the bankruptcy and restructuring group in London. [DealBook / New York Times]
* NBC has a new show about a criminal court judge who is a hard-living, sexually unapologetic woman. So basically a documentary about Justice O’Connor’s early years. [Deadline]
* So Detroit might be the worst place to work. Even with that caveat, it’s hard to believe this ad seeking someone to do, “whatever other crazy type stuff this (bastard) lawyer of ours thinks up.” A screenshot is provided after the jump in case the ad comes down…. [Craigslist]
‘I am defenseless. Take your weapon. Strike me down with all of your hatred and your journey towards the dark side will be complete.’
I think dogs should have about the same legal rights as children. That makes me a little aggressive about the legal standing of family pets, and deeply ambivalent about the necessity of treating undeveloped terrorists like “humans.” Children (and dogs) have the right to not be beaten or emotionally abused. They should have the right to clean and safe environments. They should have the right to run and play as much as possible. They should have consistent, reliable access to healthy meals, medical care, and mental stimulation.
They have the right to speak of course, but they don’t have the right to be listened to. If the dog starts demanding a blood sacrifice from the impudent delivery man, the dog is to be ignored. Similarly, you shouldn’t need “tips” for managing your kid’s iPad use. Just take the damn thing away and let the kid punch itself out. You’re the adult, you have a monopoly of force.
Of course, I’m raising a kid (and a dog) in a two-parent home. When parents get divorced, children attain the geopolitical standing of Southeast Asia during the cold war. And in that context, McDonald’s is part of the military-industrial complex that makes money off of the conflict between two warring superpowers…
If you’ve messed up and managed to get married without an airtight prenup, you’re going to have a messy divorce. Unless you have a fairy tale romance that can never be torn asunder, but statistically you don’t, so you should be planning for divorce. And congratulations to our gay brothers and sisters — with Illinois joining the 21st century this week as the 15th state to legalize same-sex marriage, you too will soon have to begin planning for divorces.
But when you get divorced, who should you hire to represent you? One publication has compiled its list of the 10 divorce lawyers you don’t want across the table from you….
Case Western is a prominent and well-ranked law school, #68 in the latest U.S. News rankings. It didn’t make the ATL Law School rankings, which stop at the top 50, but Case Western alumni give their alma mater a solid B-plus, as you can see from the school’s ATL Career Center profile.
But Mitchell’s fame comes less from Case Western and more from his national profile as a defender of legal education. Last year, he wrote an op-ed for the New York Times, Law School Is Worth the Money, that went viral.
Critics of Mitchell’s piece, including my colleague Elie Mystal, accused the dean of screwing over his students. Case Western charges tuition of almost $50,000, but less than 50 percent of its graduates secure full-time, long-term employment as lawyers, according to Law School Transparency.
Today Dean Mitchell is back in the news. A lawsuit filed this morning alleges that he screws his students more literally….
(See the UPDATE added below for the university’s response to the complaint.)
Quick question: when is your child no longer a “child,” so that you are not legally obligated to support the bugger when you are a non-custodial parent?
If you answered “over 18,” you might be wrong, depending on your state. Some states require you to pay child support for college expenses even after your kids are no longer minors. Sounds “enlightened,” doesn’t it? I’m sure it does if you are a university president who enjoys charging as much as possible for tuition. I’m telling you, birth control is the biggest bargain in the world.
A decision last week will take one state off the list of those with an extended definition of childhood. The decision can be looked at in a lot of ways: it’s a strike against the extended childhood of millennials, while at the same time registering as a shot to single parents trying to do their best for their children. And the decision is penned by a wackadoodle judge who probably thinks this will help Jesus in his eternal quest to keep people locked into loveless marriages.
If the “provider” is no longer able to provide the unlimited credit card spending at Prada, Chanel, Gucci and Hermès, the deal has changed. A new deal must be negotiated.
– Laura Wasser, a divorce attorney to the stars whose clients have included Kim Kardashian, Maria Shriver, and Britney Spears, discussing just one of the ways that marriage is a contract. Her new book, It Doesn’t Have to Be That Way (affiliate link), is meant to serve as a guide for getting divorced in a civilized manner.
Yesterday, Manhattan Supreme Court Justice Lori Sattler ruled that Lisa Mehos, who is locked in a custody battle with her husband, banker Manuel Mehos, had to testify about having an abortion.
Why would Lisa’s abortion reflect on her fitness to raise her children?
Given that this is happening in New York rather than Mississippi, the argument is not the backward claim that she can’t possibly love her kids if she had an abortion. Rather, the argument is that she demanded custody of the kids over a weekend when she knew she was going to dump them off with a sitter so she could undergo a medical procedure.
Still, injecting the emotionally charged issue of abortion into the matter fits into an overall strategy of demeaning and vilifying a woman’s sexuality under a double standard that brushes past the transgressions of the father…
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