January 2009 Issue
Some very hard times are on the horizon.
Stock markets have cratered, credit markets have seized up, and nothing the regulators have done seems to have had much impact on an economy that looks as bad as it has looked since the Great Depression.
How did we come to this, and what role did the work of lawyers play? What effect will the downturn likely have on the business of law on both Wall Street and Main Street? And how can you survive the slump?
This special issue begins to answer those questions.
We look back to the last great legal recession for clues about how this bust is likely to play out.
Today’s big-firm associates and junior partners weren’t even in law school during the last deep, sustained legal recession.
Financial institutions gambled billions on millions of mortgages like this one.
10 tips to protect your firm in the toughest times.
If you’re hiring, these 7 are worthy of your consideration.
Be creative, persistent in your search for the next job.
State and local justice systems are feeling the effects of the economic crisis (Interactive Map)
Law firms are creating task forces to meet demands of a fast-developing crisis.
Most American lawyers expect the recession to affect a broad swath of the legal profession and last for quite some time.
Dennis Dunne, partner at Milbank, Tweed, Hadley & McCloy
H. Rodgin Cohen, chairman of Sullivan & Cromwell
Arnettia Wright, sole practitioner, Wright Law Group
Robert Joffe, partner at Cravath, Swaine & Moore
Eleanor Breitel Alter, partner with Kasowitz Benson Torres & Friedman
Angela Angelakos, enforcement attorney, Office of the Illinois Secretary of State, Securities Department
And how they might have prevented it.