Sunday, April 27, 2014

Open Letter to the Graduating JD Class of 2014: Make That a Large Fry

Hello, debt-strapped fools.

You Chose to Ignore Sound Advice: I warned you waterheads back on September 15, 2011. Hell, Brian Tamanaha and Paul Campos – tenured law professors – had also highlighted this filthy industry by that time. David Segal’s brilliant masterpiece, “Is Law School a Losing Game,” was published by the New York Times – on January 8, 2011. In fact, it was the featured story on page 1 of the Business Section, Sunday edition. If you are about to receive that piece of toilet paper known as a law degree, then you have only yourself to blame.

Average Law Student Indebtedness: Take a look at these sickening, vile law student debt figures. If these numbers do not make you physically ill – or make your blood boil - then you are a eunuch. US “News” & World Report published a chart featuring Average Indebtedness of 2013 graduates who incurred law school debt. Let’s look at some of the biggest pigs, along with their overall USN&WR ranking:

Thomas Jefferson Law School, $180,665, 92 percent, TTTT;
New York Law School, $164,739, 84 percent, 140th “best”;
American University Washington College of Law, $158,636, 88 percent, 72nd best;
California Western School of Law, $157,748, 90 percent, TTTT;
Whittier Law School, $154,267, 92 percent, TTTT; and
Florida Coastal School of Law, $150,360, 91 percent, TTTT.

Keep in mind that these figures do not include debt from undergrad. They also do not take accruing interest into account. Who in their right mind takes on such outrageous sums to attend an ABA-accredited trash pit?!?!

The Crumbling Law Firm Model: On December 16, 2013, the ABA Journal posted a Debra Cassens Weiss piece labeled “Is the law firm pyramid collapsing? BigLaw is aging with more partners than associates.” From the opening:

“1988 was a peak year for associates in BigLaw.

The percentage of associates in the nation’s top 250 law firms was at its highest point that year, comprising more than 60 percent of the lawyers, Indiana University law professor William Henderson has found. Beginning in 2008, there have been fewer associates than partners in large firms.

Henderson discusses the issue in a monograph, in a post at the Legal Whiteboard and in an interview with Above the Law. “Large firms are not going extinct,” he writes at the Legal Whiteboard. “But as a matter of demographics, they are greying. If BigLaw were trading on the Nasdaq, the analysts would be very critical of this trend.”

The pyramid has been replaced by a diamond, Henderson says in the monograph, with “a relatively small number of entry-level associates, a growing bulge in the non-equity and counsel ranks, a sizable but largely invisible group of permanent staff attorneys, and a proportionately smaller equity class of partners who grow and control valuable client relationships.” In the short-term, the result is higher partner profits.

But Henderson sees the current leverage ratio as shortsighted and unsustainable in the long run. He cites a 2012 survey by American Lawyer Media in which 74 percent of managing partners forecast an increase in lateral hiring over the next five years, but only 15 percent foresaw hiring more first-year associates. “These numbers suggest that the market for lateral associates is in the process of thinning out,” he says, “and thus will not be a reliable source for high-quality legal talent.” [Emphasis mine]

Only 15 damn percent of managing partners in that 2012 survey expected to hire more first year associates. Do…you…understand…that, morons?!?! Or do you need me to draw you a diagram with Crayola on posterboard?

Death of the Doc Review Monkeys: Weekly magazine New York published Chris Opfer’s article, “Rise of the Machines: New Technology May Spell the End for NYC’s Bottom-Rung Lawyers,” on March 14, 2012. Check out this insightful portion:

“There's no escaping the fact that as predictive coding is used more widely, the technology will reduce the overall number of documents to be reviewed and the attorneys needed to review them. Judge [Cockroach Andrew J.] Peck noted the technology will require human review of less than 2 percent of all documents in an average case. His stamp of approval means that the document reviewer ranks may be culled sooner rather than later.” [Emphasis mine]

Surely, none of you dolts went to law school for the purpose of going into doc review. In the past, this was at least an option for those who attended garbage schools. Now, even those crumbs are being taken away from them. Then again, you can now review documents for $8 an hour.  What a thriving "profession," huh?!?!

Conclusion: In the final analysis, YOU ignored the extensive, well-researched warnings from mainstream publications, scamblogs, lawyers, judges, and a few bold professors. Now, you are facing the abyss of insane levels of NON-DISCHARGEABLE debt and weak-ass job prospects. Yes, you picked an amazing time to attend law school, right?!?! If you are a member of this idiotic class, then don’t not complain to anyone about your plight. After all, you chose to chase long odds for a career in a GLUTTED, shrinking industry.

You can now spend seven years in “higher education” so that you be an uncompensated Marin County Deputy District Attorney! Who wouldn’t want to sign up for this indentured servitude position - especially when it’s located in an affluent area?! Of course, you also must do the following before even being considered: pass the California Bar Exam; work full-time; commit for a minimum of six months – and with no hope of getting hired on after your stint!


  1. Welcome to a life of being a disposable diaper for the legal industry. Enjoy a career tantamount to being shit on and tossed in the trash.

  2. Nando, seriously what are the options for someone who graduated from a TTTT and has roughly $200,000 of debt? I guess such people could flee the country and take on a new identity but most won't want to do that. I think everyone in this situation is hoping for a taxpayer bailout. What say you?

    1. "I think everyone in this situation is hoping for a taxpayer bailout"

      Don't expect anything more than IBR. In fact Congress could cancel that if they want.

    2. Right. Bailouts are for banks and Big Players with money and powerful lobbies who can game the System. Law students and graduates are the Little People, with no political power, who are the backbone of the Scam. Since they are the sheep that are being fleeced, I would find it unlikely that they're get very much. In fact, I was surprised Congress threw them so much as IBR as a bone. Who cares about the victim, anyway?

  3. The damage is done. The losses exist. The country can play around with when it acknowledges the losses, in what manner it acknowledges the losses, and on whom it pins the losses.

    Politically, the country can choose bankruptcy or PSLF or IBR followed by "loan forgiveness." What the powers that be cannot do, however, is remove the losses. Someone has to bear the economic loss.

    Law schools are tapping their last bailout: loosening of the LSAT requirement. The trajectory and momentum of failure is totally unstoppable now.

    The bailouts have to be discrete, back-door; if they were explicit and open, they would prove politically impossible. John Q Public would not bail out these losers.

    If the law schools survive, they exacerbate the over supply problem, and hasten their deaths. If they shrink their class sizes, they become more expensive, attract fewer students, and hasten their deaths. If they reach way down into the applicant pool and accept unprepared applicants [not a believer in the lie of aptitude myself], their bar passage rate and employment rates drop off, and hasten their deaths. If they slash budgets and forego revenue, they endanger their ability to service their debts and endanger their bond ratings, and hasten their deaths. If they do anything to make themselves less "credit worthy," they have no potential revenue source to fill the gap of dropping enrollment, and hasten their deaths.

    Even if the law schools "win" today, they lose tomorrow.

    At this stage of decay it is just a waiting game before many of the zombies are finally killed off.

    1. Exactly. This completely parallels the real estate boom, peak, and bust. To a tee. We're nearly at the end of kicking the can down the road because of lack of road. The only questions now are who gets nailed with the losses. Exactly. Great post. Thanks for it.

    2. It's off-topic, but I see the parallels too. Higher educational institutions are like primary dealer banks. The fed is using higher educational institutions as the distribution channel for a policy of credit stimulus to accomplish its ass backwards and retarded goal that "everyone" should go to college. You see, if everyone goes to college, then everyone will be employed! High-skilled labor! STEM grads! Wave o' the future! 5-year plan!

      Alas, it's a losing game. It's a bubble. Essential market participants will not cooperate; the student vigilantes have arrived, because we all have eaten as much tuition inflation as we can stand, and across the board kids are starting to decline to go to college and law school. For their cooperation in this mess, the schools are allowed to profit, but it is not enough to save them.

  4. @11:15AM:

    Just go here and read question number 5 and the answer:

    Jesus God I have already posted this on TTR and some single person remarked that it seems to make IBR a voidable contract.

    If I can scream in your faces, IBR can be cancelled at any time and please read the link.

    As for the scamblog movement in general, it was not supposed to be a sounding board for the upper tier malcontents.

    Campos boasted about his first tier status and got a lot of heady/cerebral followers with thick tongues to cluck, but the reality of third tier and fourth tier reality is that the lower tier law schools have destroyed the financial lives of many and I feel like I have been beaten down so much by the Law School Educational Complex and Student Lending tag team that it is somehow normal.

    I am very afraid of old age and poverty and a huge post IBR tax bill.

    In short I am afraid of the future and all I wanted to do when I enrolled in a 4th tier law school years ago was to be a productive member of society instead of an outcast punished for educational ambitions.

    I am sick and just sick and I cannot even get a crappy credit card from Sears because my debt to income ratio is too high because of my student loan debt and therefore take advantage of the discounts on the consumer merchandise I wanted to purchase today.

    IMHO Campos and Adams should be removed from third and fourth tier reality.

    The basic premise was that the diploma mills existed for the dummies that needed a sheepskin and could not get into better schools, and so they went to Touro or Brooklyn.

    I well remember puzzling over how many students at Touro were from New Jersey, and then being shocked at graduation at the greeting onstage from a judge this or that or a partner of this or that law firm or a husband or a wife. At the time.

    Josh Adams is not our problem and begging for the attention of Campos by now seems very wrong too.

    1. "Just go here and read question number 5 and the answer:"

      That is about PSLF, not IBR.

      "IMHO Campos and Adams should be removed from third and fourth tier reality."

      It's Nando's blog, and he has already stated that he is going to keep the picture of Adams up there Painter.

    2. If you need a job to pay off your student loans, there are always the fracking rigs in North Dakota.

    3. Earlier today, I received an email from someone claiming to be Mr. Insanity. The subject was “Good morning.” The email address listed was Here is the full text of the message:

      “I just wanted to say Good Morning. I see that you posted on my blog. I really do not understand your anger at me.

      Painter has been contacting me lately and he has tried to get you to take the picture off your blog. To be honest, I don't mind it there. I kind of like being the subject of your blog.

      I got a comment on my blog from a girl about the picture and she seems to think I am hot. So, I guess you are doing me a favor. Confidence + looks = win.

      I hope that you have a good week. I am still looking for work and I know I am on the cusp of finding it. I do still have my blog up and another blog which is a link to some of my favorite law blogs. If you ever want to read them, you are welcome to.

      I do not talk about you on my blog anymore. I also do not visit your blog anymore (even though I went there quickly to get the e-mail address, rest assured I did not read anything there). I don't like your blog and I do not want to read it

      Have a good day.


      Mr. Infinity”

      It is beyond pathetic that Painter has apparently befriended the very person who made his life miserable for several years. However, it is even more disgusting that JD Painter recently attempted to out another law school critic, by name, as “being gay and on Medicaid.” Don’t ever do that again on this blog. If you want to make such statements, do so on your own site.

      I can see why so many scambloggers and readers have become sick with Painter’s antics. Looking back, he tried to make the movement about his plight. This is bigger than one person’s struggles after law school. We are talking about tens of thousands – if not hundreds of thousands – of young people who have been financially ruined by these supposed “institutions of higher learning.”

      I’m not getting paid one dime to post these stats, graphs, charts, and stories. Hell, it takes up some of my personal and leisure time. That is true of all the law school critics out there who are still spreading the message about law school.

      Thank you to all the readers and supporters of these blogs. It has been great to see the effect that we have collectively had on law school enrollment. In the end, it is immoral and disgusting to charge people $40K+ in annual tuition at low-ranked law schools – especially when the U.S. lawyer job market is shrinking. Keep in mind that the “professors” are merely trying to perpetrate this sick $y$tem, for as long as possible. They do not care about their students. To them, the pupils are simply a means to an end.

    4. Why would a married man care whether some girl thinks he's hot? He needs to get a second opinion from his wife.

    5. Nando, could you please take down that disgusting picture of Adams and his wife? Just replace it with a picture of the girl who thinks he's hot. She must be pretty hot herself.

    6. 411,

      Pretty sure that "girl" is Adams himself - or possibly the Roach. So why IS Painter friends with Adams all of a sudden? I'm guessing blowjobs. ROACH blowjobs.

      Adams and Painter are going all out - using their combined-80 IQ to get that picture taken down.

      The Paint-turd should just STFU already - after all, Adams says he LIKES having his picture on the blog, so it's really a win for everyone concerned.

    7. Adams is an asshole, so if he wants the picture to stay up, you take it down. That's just common sense and elementary logic.

      It's no wonder that you guys couldn't handle the LSAT.

    8. Notice that Mr. Infinity said girl. It is probably a police officer pretending to be a girl online to lure Mr. Infinity into a trap. I would love to see him try to talk his way out of that one.

    9. @April 28, 2014 at 4:11 AM

      Painter, if you put this much effort into studying for the bar as you did to get that picture taken down, you would have passed it.

    10. @April 28, 2014 at 4:44 PM

      Adams is just saying that as reverse psychology to get Nando to take it down.

    11. I have no idea why people beat up on Painter.

    12. Sorry, I wasn't trying to offend anyone. I just wanted to protest Joshua whatever and his parasitic lifestyle. I really hope he gets that job at Starbucks. To become a normal adult, he needs to start working for a living. Then maybe he'll quit acting out like a spoiled 14-year-old girl.

    13. Mr Infinity is reporting on his blog that he's filled out a FAFSA to go back to community college. I think someone should put a stop to his loan fraud: To ensure complete anonymity, download a hardcopy of the special complaint form complete, and mail.

      It's time for him to pay us taxpayers back before he steals any more. Nando, can you handle this? You know more about him than anyone.

    14. Hahaha, that loser Adams took down his blog. For those who didn't see it, he said he was applying to community college, probably because he FAILED THE NY BAR EXAM.

  5. Some of the law schools are really hurting. Both Hofstra and Widener lost about 25% of their faculties in the last year.

  6. The debt from those six law schools is ridiculous. With accruing interest while in school, add another $15-20k...and then the interest continues at about $10-15k a year. That's financial suicide!

  7. Even if you're one of the lucky ones (not connected or wealthy) that worked your ass off and got biglaw, you're screwed. Don't expect those (relative few) associate positions to last long.

    So you're hoping to pay off your student loans within a 3-5 year window. Try paying off $200K on a $160K salary in NYC. After taxes and SSi are taken out, you're likely looking at $100K a year. Then look at the cost of living in NYC. Law is a losing game for the great unwashed masses, not just law school.

    1. Right. The problem isn't so much the salary or even the 3-5 year window but what's left after taxes and COL. Unless you plan on living in Central Park during those 3-5 years or on the subway (mobile apartment) the COL makes it a losing scenario.

    2. Yes and being a lawyer esp in a big firm gets expensive. You have no time to cook so you eat out a lot. The business clothes and dry cleaner costs add up. Lots of pressure to go out for drinks, socializing etc. You have no time to do things like clean your home, care for your kids and pets etc so you end up paying others to do those things. Add in COL in nyc or dc and its really a stretch.

  8. 159,

    You NEVER wanted to be "a productive member of society" - and you aren't being "punished for your educational ambitions," either. Your core characteristic is that you hate to work. That's why you can't have nice things.

    As for your "credit score," just STFU already and buy things with cash. Stop trying to borrow even more money.

    1. @3:30 P.M. 4/27/14

      Kill yourself with a quickness.

    2. I re-read the original post @ 1:59. Where do you get that he or she does not want to work from what was written? Honest question, no trolling, don't tase me bro.

    3. 159 is John Koch, and he has refused to even look for a job for 20 years. He likes to hijack blogs like this one and demand a six-figure handout. He would probably rather be on fucking FIRE than do an honest day of work.

  9. I knew that Hofstra had sunk in the ratings but I didn't realize it was in financial trouble. Maybe Campos's post from last fall speculating that Hofstra was in danger of closing was true.

    1. If Hofstra was financially weak before, having their law school go from a profit center to a cost center will really, really hurt. The university administration has the incentive to do whatever it takes to milk the law school.

      The professors there might be finding out what the real world looks like.

    2. Hofstra is a tough case, one of those weird bubble schools. They're too selective to play the New York rich kid's market; Touro has that group in the bag. But they never had enough prestige to break out and attract some of the Fordham applicants with their substantial discounts. And Dean Nora Demleitner's attempts to generate some prestige failed miserably.

  10. It's a given the kids getting ready to walk for their law diplomas in a few weeks are mouthbreathers. But anyone after them are even bigger dumbasses.

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  12. Nando,

    I agree with you, but if you think about it, the whole "more partners than associates" model is true for many other industries. CEO's and upper management make a large majority of the profits, while worker wages are stagnant and, overall, there are less jobs for recent graduates. This is true in Australia, England, France, Canada and most other developed countries. True, these people may not have law school debt, but they sure as hell can have college debt, or debt from other graduate schools. And they are unemployed or underemployed. The legal field is not the only failing industry in this country.

    If things don't change soon, I have a feeling there will be major social unrest. There isn't any yet because we still have social safety nets and a sizeable amount of young people age 18-34 year olds--forty two percent of them--are able to live at home with their parents instead of out on the streets.

    1. You hit the nail on the head. There are big forces at play creating big distortions in the economy and in society.

      There are plenty of young people walking out of undergraduate institutions with law school sized debt: i.e. 100,000 or more. Even 30,000 is too much given wages. Then the graduates find that their degrees are not good enough to compete in a vastly shrunken job market that isn't creating the kinds of jobs that might require a college degree. So, they wait tables, or they go for more degrees.

      There's more variety in pricing and scholarships in undergraduate institutions, but undergraduate programs are now suffering the same enrollment declines as law school, because most are simply too expensive.

      Families are bearing the costs.

  13. Many of the guys from the class of 2014 are screwed in many ways beyond the financial. They will likely never find a good woman to marry. Women with debt will be looking for guys without debt to help bail them out. Women without debt will not be looking to hook up with an unemployed/underemployed lawyer with huge debt and few prospects. The class of 2014 in many cases has been robbed of the right to seek happiness through a fulfilling relationship. That is perhaps the worst injustice of all. Deprived of the opportunity to seek happiness.


    On April 17, 2014, Paul Campos posted an epic Lawyers, Guns & Money piece labeled “The end of the law school scam and the limits of transparency.” Look at the following excerpt:

    “This fall, around 37,000 to 38,000 people will enroll at ABA law schools. Taking the higher end of the estimate, this represents close to a 30% decline in what law school enrollments looked like before the law school reform movement successfully pressured the ABA Section of Legal Education and the Profession — which has tended to be controlled by deans and faculty from low-ranked schools, who had the most to lose from increased transparency — into forcing schools to disgorge something resembling realistic employment numbers (the ABA still refuses to mandate any publication of salary data however).

    The decline in applicants has been even sharper — nearly 40% — as law schools have slashed their admission standards to keep enrollments from cratering further.

    Meanwhile schools have been cutting prices: it’s quite likely that average effective per capita tuition — sticker tuition minus discounts — is actually going to be lower in constant dollars for this fall’s entering class than it was for students who matriculated three years ago. The combination of far smaller entering classes and lower real tuition has forced many schools into serious cost-cutting mode, after decades of largely unrestrained extravagance.

    Faculty-student ratios actually fell in half between 1978 and 2011 despite much larger enrollments, while administrative positions proliferated far faster than faculty lines. Faculty salaries nearly doubled on average in real terms, while administrative compensation skyrocketed in ways that made faculty raises look modest by comparison. Many schools replaced perfectly adequate facilities with increasingly palatial physical plants, in a sort of perverse amenities-based arms race for tuition dollars.

    Of course all this had to be paid for, and it was, mainly by tuition tripling at private law schools and increasing five times over for resident students at public law schools. This has produced a situation in which the average educational debt of law students graduating this spring — that is, members of the last entering class before the law school reform movement began to have an impact on the structure of legal education in this country — is around $150,000, while the median salary, including salaries of zero, for this group will likely be well under $50,000.”

    Near the conclusion, Campos notes that “In a sense, one could say that we have reached the end of the law school scam — in the sense that young people who enroll in law school today have every opportunity to avoid being misled about the prospects that await them.” He is correct. Today’s lemmings have every chance to prevent themselves from being financially raped by the law school pigs. Hell, the dunces merely need to do some damn basic research on that thing called the internet.

    1. You know Nando, some poor misguided fool contacted me recently on LinkedIn because he thought I could help him get a job. I'm a 2008 grad hanging onto a pretty decent job (non-law). No doubt he's simply following the advice of the CSO and contacting alumni.

      This chump had all the info on the law school scam in 2011 when he enrolled in his Toilet and now he's discovering that he will shortly be taking the bar and will then have no reason not to have a job. I can't help this poor fool; I am trying to hang on myself. He's fu&@ed - a graduate of a notorious Toilet in a saturated market with two T14s in the same city.

      Part of me says that it is futile at this point to try and dissuade lemmings. They have to find out for themselves. But I have far less sympathy for them than I do for the earlier generation of suckers (like us). If I had had sites available like TTT and OTLSS and even Above the law, I doubt I would have enrolled. Now I'm just blogging to see the Scam deans and profe$$ors thrown out on their asses, not to inform Lemmings about the scam.

  15. Painter and Adams are a marriage of convenience. Each of these assholes owes more than $300k in student debt. In a few years, their combined student debt will be 3/4 of a million dollars.

    What's funny is they both have a NYC connection. One went to BLS and the other went to facking Touro. I wouldn't buy laundry soap from a place called Touro. Could it be that Adams is Painter's illegitimate son? If so Adams can move in with Painter's parents and they can both suck his elderly parents dry.

  16. Painter is a pile of fucking dogshit. He needs to quit blogging and go back to buzzing around big black butts. Kind of like the way that flies buzz around a trash can - they love that dumper!

  17. 944,

    Those parents of his are already "dry" - the roach has been crying about some major new tragedy. One'll get you five it's somehow related to the Momma Money Spigot drying up. The guy's a fucking sociopath.

    Painter also wrote that he'd rather be a MILLION dollars in debt than deal with this new parade of horribles. Of COURSE he would - it's not like he'd ever try to pay back that million.


    On April 9, 2014, Brian Smith’s article, “Law school employment figures show class of 2013 struggling to find work as attorneys,” appeared in Booth Newspapers. Look at this strong opening:

    “New employment data from the American Bar Association shows that it's still a tough job market for law school graduates.

    The ABA collects information from law schools each February on the previous year's graduating class, and data for the class of 2013 shows that many graduates are continuing to have a difficult time finding jobs.

    Nationally, 11.2 percent of graduates from the class of 2013 were unemployed and seeking work as of Feb. 15, up from 10.6 percent in 2012. Only 57 percent of graduates were working in long-term, full-time positions where bar admission is required, which is an increase of almost a full percentage point over 2012.

    The class of 2013 was the largest ever, according to the ABA, with 46,776 students earning degrees. About 4 percent of employed graduates were working in positions funded by law schools, most in short-term, part-time jobs.”

    Hell, the only thing stronger is the stench of TTTThoma$ M. Cooley Law Sewer.

    The author then continues:

    “Michigan schools graduated 2,228 students last year, with about half of those coming from the multiple campuses of Lansing-based Thomas M. Cooley Law School. Overall, 46.2 percent of graduates from Michigan schools were working in long-term, full-time jobs that require bar admission, more than 10 percent below the national rate.

    Unemployment rates continued to be high for Michigan school graduates as well, with 28.8 percent of Cooley graduates reporting they were not working. University of Detroit Mercy and Wayne State University also had double-digit unemployment rates at 14.2 percent and 13.2 percent respectively. The University of Michigan had an unemployment rate of 8.5 percent, while Michigan State University had the lowest jobless rate at 7.3 percent.”

    Do you get the picture yet, lemmings?!?!

    For $ome rea$on, in the October 2010 edition of the Michigan Bar Journal, associate dean at Fourth Tier Trash Pit Cooley Law $chool, Nelson P. Miller wrote a piece entitled, “Legal Education as a Pie-Maker: Why Michigan Benefits from Accessible Law Schools.” Yes, these academic thieves care about you and your future, right?!?! Check out my profile of Cockroach Miller, from November 2, 2010.

  19. Your blog and others prevented me from making a huge mistake as I was going to enroll in a TTTT in fall but ultimately decided law school wasn't for me. Thanks Nando.

    1. Another success story! If more law school applicants pulled their heads out of their butts, they'd realize their just being use to line the pockets of people like Lisa T. McElroy and her international travels and obviously passionate hobby for eating food.

    2. It's not to late. George Clooney just got himself engaged to an Oxford-educated lawyer. There's still time to screw up your life.

    3. The funny thing is that law school may actually be for you, but you would need to go to a much better school. What cutoff does Nando use, Top 8 I think? Make it Top 6 just to be safe.

      Another funny thing here is that in a very important sense, that TTTT law school isn't really a law school. Regardless of what they do in the classroom, they aren't preparing you to enter the legal profession. That's what a law school is supposed to do.

  20. If they ended the easy government loans, half the law schools would close overnight.

  21. Law schools are marketing IBR(income based repayment) hard, as a reason why law applicants should close their eyes to huge piles of debt. This is not going to end well.

    1. It's funny, isn't it? Law schools are not only admitting that they are nothing but a road to unpayable debt, but saying that because it is unpayable, it is a good idea. Why is that not bigger news?

    2. The federal government does not dare end IBR.

      To end IBR is to trigger massive, unavoidable defaults, and rip the veil back on the losses behind it, which are pushing one trillion.

      It is absolutely comic that politicians debate "whether" the country ought to keep debt forgiveness programs, or "whether" the federal government should bailout student debtors...I mean, for fuck's sake, THE GOVERNMENT OWNS THE GODDAMN LOANS - IT OWNS THE LOSSES ON THOSE LOANS RIGHT NOW. (yes i'm shouting, screaming even).

      There is no "whether" the government "chooses" to suffer losses on these loans; the only "choice" involves when it will actually acknowledge the losses.

      So, I say, fuck it, and fuck them. Go ahead, end IBR. Doing so doesn't create one solitary job or raise the wage of one solitary debtor. Go ahead, rip the veil back on how badly defaulted the federal student loan pool really is. How bad is it? Is it 80% is it 90% of the 40 million Americans with student loan debt too poor to meet the original payment schedule of the promissory notes???

      Go the fuck ahead and end it. Debtors will simply die still owing debt. That's it. The road down which to kick the can of student loan losses is precisely and only as long as the life of the debtor.

      Graduate at 25. Add 25 years under IBR. Now you're 50. You get a tax bill on your loan forgiveness, so you enter a tax payment plan. The tax bill is so large, you'll be on this payment plan for 20 years. Now you're 70, if you're not dead. The average life expectancy of an American is 77 years.

      There is simply no move left that addresses the problem the federal government created while simultaneously managing to isolate damage to the debtor. The federal government itself and the schools are going to wear the scarlet letter of this debt next, and frankly, it's large enough now that it could crash both the higher educational industry and the federal government. After all, the feds are not sitting on budget surpluses. Not at all. Neither are the schools.

  22. I love Nando and consider him a brother and we have been through a lot together.

    I am John Koch the Painter/Insurance Salesman/ Compliance manager and waiter and construction laborer after law school.

    I tried posting all of my student loan history and was on the TTR blogroll several times and it impressed no one at all and I even went on the Blue collar News 12 Long Island and with my full name and address and that did not accomplish anything either.

    At all.

    I even went on NPR radio with Cryn Johannsen and nationwide for all of a day and that made no impression either. At all.

    And so now we have Nando unusually focused these days on Adams, who is nuts, and allowances must be made for the lack of life experience of Adams.

    So what to do?

    For all the stupid people that don't realize it:
    The Adams marriage is one of combined student loan debt, and is a case study of sorts.

    He went to law school and racked it up and his good wife did as well.

    In total they must owe half a million or close to it and fresh off the starting blocks as young 30 something people.

    If the system continues as it is going, and if they stay married and comingle assets, they will end up owing and due to compounded interest, close to 3 million or more to the taxpayers by retirement age by the time they retire.

    As for Adam B, he is a creep and said he had no time for me and I held out as long as I could. I hate the guy.

    The adjunct law professor, who is a woman, basically blackmailed me, and Adam B basically supported the blackmail of that anon woman who is the adjunct law professor.

    In the end, the scamblogs are just a nuisance and without any political influence and the heart of the problem is the student loan debt.

    Campos will show up on Friday for work and get his paycheck or maybe next Friday for his bi weekly paycheck and all will be as merry in his world as a wedding bell on Christmas day.

    The rest of us suckers will live out the remainder of our miserable indebted lives with ruined credit and peck and poke at each other and it is all trivial and miserable drivel and hopeless.

    It is all hopeless.

    Student Loan debt has ruined my life. Period.

    I will never understand why Nando does not receive comments from Alan Collinge.

    But there must be good reasons.

    The troll that calls me Paintroach contributed 5K to the Virgil Goode election campaign and he said so on the Debbie Schlussel blog. he is a lawyer and a little digging will find him.

    Hell I found Adams, and I can certainly find out who more trolls are.

    But the troll that calls me "paintroach" made a lot of racist comments in the past and all you have to do to follow his trail is google a string such as:

    "Worshipping the black booty Obama Debbie Schlussel Virgil Goode"

    And then you will find the bastard.

    BTW I have a job.

    1. How did the adjunct law professor blackmail you?

  23. 341,

    If it's so easy to find him, then why don't STFU and do it?

    You don't have a "job," you piece of trash - unless spending other people's money is now some kind of roach occupation.

    The scamblogs HAVE been (partly) responsible for reducing the enrollment of fresh victims. But apparently that isn't an "accomplishment." No - to a parasite like you, the only "accomplishment" would be for Santa to fly by in his brown bootysleigh and give you half a million dollars.

    If THAT's been your goal all this time, I'd say you went in with some, er, UNREALISTIC expectations.

    But keep waiting for Santa and refusing to work, man. Maybe booty really WILL conquer all.

    BTW, like Campos, I too got paid today. How about you?

    You are one laaaaaaazy fuck.

  24. Law schools desperate to put asses in classes, start preying on community colleges as a source of revenue.

    Law school path opens for California's community college students

    Next, law schools start recruiting from homeless shelters, after they discovered the government would give the homeless student loans.


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