Posts Tagged ‘admissions’

And You Thought Shakespeare was the Only Artist Who Despised Lawyers

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I will not say that only harm or bad derives from established law or practicing attorneys. Law has produced much good such as the protection of rights. But let us be honest, just on personality and office demeanor, think of what you have thought of lawyers. Although many tout the law as a noble profession many stereotypes are true about many attorneys: money-hungry, do anything to get to the top, back-stabbers, foul-mouth, uncouthe, racists, sexist. Of course this is a reflection of the human condition but when many of these types revel in the power through the courts, politics, et cetera to promote an unhealthy agenda well, let’s take a quote from the Devil’s Advocate starring Al Pacino.  This movie premiered over 10 years ago but I don’t remember seeing it until years later. Wish I saw this before law school.

Why lawyers?

Why the law?

Because the law, my boy,

puts us into everything.

It's the ultimate backstage pass.

It's the new priesthood, baby.

Did you know there are more students in law school..
than lawyers walking the Earth?

We're coming out...guns blazing!   

The two of you...all of us,
acquittal after acquittal after acquittal...

...until the stench of it reaches

so high and far into Heaven...

And scene.

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Cornell Journal of Law & Public Policy: Predatory Student Loan Lenders, Middle Class Hope for Upward Mobility, the Legal Industry and the Inevitable Bubble

As some potential law students continue to await LSAT scores, law school admissions or are wondering whether or not going to law school will give them that one chance at a better life, it would benefit you to read the following:

Being led to the slaughter

A law journal article: 20 Cornell Journal of Law & Public Policy 67 (2010)
Options for Student Loan Borrowers: A Derivatives-Based Proposal to Protect Students and Control Debt Fueled Inflation in the Higher Education Market, Michael C. Macchiarola; Arun Abraham

O.k. so this article is 72 pages, obviously I won’t delve into the entire piece but I am placing some introductory quotes in which the author is direct with failing legal industry and how the student loan industry are basically predators. He specifically discusses law schools and new lawyers are a bad investment. the author is a ‘distinguished lecturer.’ The author is a law professor and is honest enough to basically state that going to law school isn’t worth it. Do you 0Ls get it? one of your potential professors is telling you that LAW SCHOOL IS A BAD INVESTMENT!

Here are the Table of Contents for a very brief overview:
INTRODUCTION                                                                                                                                                                                                                                                    I. THE RUNAWAY COSTS OF AMERICAN LEGAL EDUCATION
By the Numbers
The Causes: A Combustible Mix of Accreditation,Rankings, Peculiar Incentives and Federal Encouragement
A Brief History of the Law School and Its Accreditation
The Rankings Game
The Peculiar Incentives of the Law School Faculty
The Federal Government and the Student Loan Market
The Scope of Government Involvement
Crisis in the Market and the Emergence of SAFRA
Income-Based Repayment and More of the Same
“For-Profit” Schools and a Way Forward

THE DISAPPOINTING REVENUE PICTURE FOR LAW SCHOOL GRADUATES
INFORMATION ASYMMETRIES AND ENTERPRISE LIABILITY
Informational Asymmetries Abound
Applying Lessons from Enterprise Liability Theory

Now for some introductory quotes:
Runaway tuitions and the burdensome student debt required for most Americans to obtain a post-secondary degree are under scrutiny like never before.4 Evidence is beginning to mount that, for too many students, debt-financed education represents a stifling encumbrance instead of the great investment that society’s collective commonsense has long advanced.5 Such a finding is unsurprising in light of the fact that, for too long, the value of education has been reflexively embraced without adequate examination of its cost. (p. 69-70)

As most bloggers have been stating, the cost is not worth the proposed benefit with all of the practical variables: economy, shrinking industry, inflation, lower salaries, loan payments and their capitalized interest as well as the time and psychological warfare this field demands.

The cost of attending law school, for example, has increased at two to three times the rate of inflation over the last three decades.11 The promise of accessible loans has made loan eligible middle- and lower-income students an easy mark for unabashed, aggressive student-loan marketing.12 “The end result,” in fact, “has been an unprecedented, debt-fueled wealth transfer from students of modest means to the increasingly prosperous higher education industry and opportunistic student loan lenders.” (p. 71-72)

Now deemed “McLaw” this along with LPOs and general outsourcing has set the middle class population in a cycle of perpetual financial slavery. Upward mobility is not founded in usurious personal debt. Do not think of the titles. Do not think of prestige. Think of your life and happiness and with any common sense you will decide not to attend law school.

Is China America’s Mirror?: Newsweek: Smart, Young, and Broke: White-Collar Workers are China’s Newest Underclass

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Melinda Liu and Marjie Vlaskamp, p. 40, June 28 & July 5, 2010; online version: China’s New Underclass: White-Collar Workers – NewsweekAnd you thought it was bad here. Must we wonder why globalization may not be such a good idea? Because when a bunch of countries jump on a bandwagon, say the proliferation of higher education, there’s little to no room for recovery, and no I’m not referring to fleeing to another country, well not necessarily!

“Guo and an estimated million others like him represent and unprecedented and troublesome development in China: a fast-growing white-collar underclass. Since the ‘90s, Chinese universities have doubled their admissions, far outpacing the job market for college grads.” [emphasis mine] My word, does this sound familiar? I know these blogs are dedicated to the law school (graduate level) industry, but I am sure that American undergraduate universities have been doing the same thing. I’ve read commentators and some bloggers suggest leaving the U.S., should you be that desparate—choose wisely!

I wonder if the author’s been reading these blogs, then again just the sad, universal reality of university systems here and abroad:  This year China’s universities and tech institutes churned out roughly 6.3 million graduates.  Many grew up in impoverished rural towns and villages and attended second- or third-tier schools in provinces, trusting that studying hard would bring them better lives than their parents had.  Interesting, we see that the promise of upward mobility is not only promoted here as the American Dream, but in other countries for hope as well. I wonder how their medical and legal fields are doing?

They may be smart and energetic, but some are starting to ask if the promise of a better life was a lie. If you have to ask, then you likely know the answer.

They’re known as “ants,” for their willingness to work, their dirt-poor living conditions, and the seeming futility of their efforts.  “These ants have high ambitions but virtually no practical skills”…

The similarities between those Chinese graduates in the tech field and American law graduates is simply astonishing. It’s a potentially explosive situation. It sure is. Just imagine how many millions of unemployed, educated persons who were deluded will lose patience with the current trend. Someone commented before about potential riots and living near concentrated urban areas.

The discontent rising among the ants is even more worrying. Blue-collar wages have actually soared recently, while white-collar pay is shrinking. This resonates so deeply right now I’m confident we can superimpose attorney with computer programmer and change the geographic region and we will have a sufficient description of the American legal industry.

…the government admits that at least one in eight is permanently unemployed. And those who get jobs don’t always find work in their chosen fields. Ditto. College grads have far higher expectations than the migrant laborers who have fueled China’s growth for three decades.  “Ants are educated. They speak foreign languages. They’re Internet-savvy.  It’s that potential for trouble that has the government worried,” he says.  “If they aren’t satisfied with their living conditions and want to start a movement, like the 1989 Tiananmen Square protests, it becomes a huge problem.”

This is an interesting take, the Chinese government is concerned about the educated persons becoming unruly. In a way it makes sense. People who lived in poverty most of their lives and chose not to attain higher education and debt are accustomed to a lower standard of living. Those who work hard, with aspirations of attaining a “better life” are crudely disappointed with the all-encompassing economic reality. Thus, the former, really did not have any thing to lose, while the latter has invested time, money, effort and sacrificed aspects of normal social living based on societal and other assurances that it will be compensated for upon completion. Very interesting. Though it’s not simply black and white, of course there will be poor people who are willing to cause harm and take what’s not theirs, but I think this article shed some light (at least for me) on how we compartmentalize (poor vs. middle class or wealthy, educated vs. uneducated, etc) but the variables may cross depending on the circumstances.

This guy gives some ideas on how an uprising would occur. Is it just me or do governments tend to look at suppressing uprisings, stemming tides of frustration but oft-times do not offer or work with those affected to create solutions to the circumstances that originated the frustrations?

The ants don’t seem to be organizing in any big way so far. But they clearly have the necessary technical skills and a sense of common backgrounds and objectives.  “it’s like I’ve joined an army,” says Wang Lei, a young University of Innder Mongolia graduate who has found steady work as a computer programmer after months o searching.  “For the rest of my life, I’ll meet former Tanjialing inhabitants and have strong ties with them because of our shared experience.” Comments like this make China’s leaders nervous, not least because the ant tribes are so fluid and difficult to monitor.  If they were somehow to make common cause with other restive rural-born Chinese, such as landless farmers or migrant workers, they’d be extremely hard to suppress.”

This wouldn’t happen in America, we’re too individualistic, judge people by their clothes and there’s too much racism and haves vs. have-nots. In China, although there are ethnic Chinese and others, they’re more homogenous than Americans. So, it’s not just bad here for educated folks, just look around you.