NationStates Jolt Archive

Bankruptcy lawyers, to be specific.

Why should they get 1,000 dollars an hour working the bankruptcy?

http://www.taiwannews.com.tw/etn/news_content.php?id=858810&lang=eng_news&cate_img=140.jpg&cate_rss=news_Opinion

I've actually thought that regardless of their specialty, no lawyer should ever make more than 100 dollars an hour. Period. And that plaintiff's lawyers should not be in a position to rake in 30% of their client's award - essentially depriving their own client of what a jury thought was a compassionate award.

You have to be a special kind of scum...

So, is this a legit thread, or are you just trolling all the lawyers/law students who almost always disagree with you?

As a rule of thumb, I am against pay caps. Period. Special circumstances Ill consider. But otherwise, no.

So, is this a legit thread, or are you just trolling all the lawyers/law students who almost always disagree with you?

As a rule of thumb, I am against pay caps. Period. Special circumstances Ill consider. But otherwise, no.

The question is, if they're working a company bailed out by the government that is going under (Think General Motors here - the government bailed them out, but it's likely they won't survive), would you cap the pay of the bankruptcy lawyers?

Bankruptcy lawyers, to be specific.

Why should they get 1,000 dollars an hour working the bankruptcy?

http://www.taiwannews.com.tw/etn/news_content.php?id=858810&lang=eng_news&cate_img=140.jpg&cate_rss=news_Opinion

I've actually thought that regardless of their specialty, no lawyer should ever make more than 100 dollars an hour. Period. And that plaintiff's lawyers should not be in a position to rake in 30% of their client's award - essentially depriving their own client of what a jury thought was a compassionate award.

You have to be a special kind of scum...

First, when did you become a socialist?

Second, would you suggest that no one, regardless of their profession, should make more than $100 per hour, or is this just prejudice against lawyers?

Third, plaintiff lawyers that take cases on contingency undertake considerable risk that they will receive no compensation at all and provide legal services that their clients otherwise could not afford.

The question is, if they're working a company bailed out by the government that is going under (Think General Motors here - the government bailed them out, but it's likely they won't survive), would you cap the pay of the bankruptcy lawyers?

Its tempting, especially if the bailout is paying their salary.

First, when did you become a socialist?

Second, would you suggest that no one, regardless of their profession, should make more than $100 per hour, or is this just prejudice against lawyers?


Lawyers, more so than any other profession, are sheer parasites.

Third, plaintiff lawyers that take cases on contingency undertake considerable risk that they will receive no compensation at all and provide legal services that their clients otherwise could not afford.

A lot of them are engaged in what really should be termed organized extortion - they really don't give two shits about their clients.

The question is, if they're working a company bailed out by the government that is going under (Think General Motors here - the government bailed them out, but it's likely they won't survive), would you cap the pay of the bankruptcy lawyers?

That is a bit different than your statements in the OP and raises an issue worthy of serious discussion. Carry on....

I wish I earned $100 dollars an hour :(

bet they get paid more though because they have to work really hard

Its tempting, especially if the bailout is paying their salary.

In the case of GM, the government would be looking to get the bailout money back, which the lawyers would be

a) fighting against, and
b) getting paid 1,000 dollars an hour to do so

That is a bit different than your statements in the OP and raises an issue worthy of serious discussion. Carry on....

We can narrow it to this - I could make a whole set of threads on what's wrong with lawyers.

Lawyers, more so than any other profession, are sheer parasites.



A lot of them are engaged in what really should be termed organized extortion - they really don't give two shits about their clients.

Bitter about being caught not being one, huh?

Lawyers, more so than any other profession, are sheer parasites.

A lot of them are engaged in what really should be termed organized extortion - they really don't give two shits about their clients.

So your comments are little more than bile. That speaks for itself.

a) fighting against, and
b) getting paid 1,000 dollars an hour to do so

As long as the government isnt paying their salary, no, I dont support a pay cap.

Are you suggesting that lawyers who fight against the government should recieve pay caps?

Bitter about being caught not being one, huh?

Two whole years ago... is that the best you could do?

So your comments are little more than bile. That speaks for itself.

And no one should be allowed to criticize lawyers, either...

Lawyers, more so than any other profession, are sheer parasites.

If that's true, I wonder why you went through such efforts to lie and pretend to be one of us.

And no one should be allowed to criticize lawyers, either...

Where was that written?

I know you cant read your own sources, but are you losing the ability to read people's posts too?

If the lawyers are truly being paid with taxpayer-funded federal relief dollars, then I think that they should be paid the same as whatever the federal government would pay to employ a lawyer of a similar discipline. If that's $100 an hour, then so be it. If you're just pulling $100 out of your ass, then no.

And no one should be allowed to criticize lawyers, either...

Feel free to provide an actual criticism rather than appeals to emotion and name-calling.

If the lawyers are truly being paid with taxpayer-funded federal relief dollars, then I think that they should be paid the same as whatever the federal government would pay to employ a lawyer of a similar discipline.

Let us fear the day when the US government employs bankruptcy lawyers.

Criticising certain unethical elements of a profession is one thing (i.e.: the conduct of a lawyer that runs contrary to any ethical code of conduct), but to make disparaging remarks about the entire profession based on the unprofessional conduct of a few unscrupulous solicitors and barristers is demonstrable of your lack of overall knowledge of the profession and those in it.

Yes, some lawyers are paid a lot, but they are paid for their time. They are not public employees. Those who are, are paid a different type of monetary compensation. Those who work in the private sector in LLPs charge their rates because of the cost of running the firm, which includes keeping up to date on all legal matters. They have staff to pay, business costs. They have disbursement fees and other costs associated with their profession.

I'm unsure about American legal ethical standards, but those here in Canada are stricter, which means there is less room for lawyers to exploit those with little money.

You haven't a leg to stand on. The OP is the babblings of an uninformed individual who doesn't understand a profession and would rather paint it with a standard tar brush.

You haven't a leg to stand on. The OP is the babblings of an uninformed individual who doesn't understand a profession and would rather paint it with a standard tar brush.

This.^

Let us fear the day when the US government employs bankruptcy lawyers.

Surely the IRS employs something with a similar background, only from a prosecutorial angle?

And no one should be allowed to criticize lawyers, either...

Calling them extortionists and parasites is more along the lines of insulting them rather than criticising.

You haven't a leg to stand on. The OP is the babblings of an uninformed individual who doesn't understand a profession and would rather paint it with a standard tar brush.

To be fair, it's no different than what is said about investment bankers and the like by a lot of people on this forum. In fact, it's rather tame compared to that.

And no one should be allowed to criticize lawyers, either...

Why don't you try actually doing that then? Silly name-calling is not the way to go.

Bitter about being caught not being one, huh?

Please PM me, I'd love to hear about it, but don't want to clutter the thread.

Bankruptcy lawyers, to be specific.

Why should they get 1,000 dollars an hour working the bankruptcy?

http://www.taiwannews.com.tw/etn/news_content.php?id=858810&lang=eng_news&cate_img=140.jpg&cate_rss=news_Opinion

I've actually thought that regardless of their specialty, no lawyer should ever make more than 100 dollars an hour. Period. And that plaintiff's lawyers should not be in a position to rake in 30% of their client's award - essentially depriving their own client of what a jury thought was a compassionate award.

You have to be a special kind of scum...

So, you believe in a mandated salary cap for an entire profession, in general.

Congratulations. You are now more socialist than people accuse Obama of being.

To be fair, it's no different than what is said about investment bankers and the like by a lot of people on this forum. In fact, it's rather tame compared to that.

It is unfair to those individuals then. There are bad apples in every area and to put those on par with the honest ones discredits that profession, regardless of what it may be.

That is a bit different than your statements in the OP and raises an issue worthy of serious discussion. Carry on....
Lawyers will be "capped" by the bankruptcy court as that court always rules on the reasonableness of the fee (hourly rate) in light of the work performed, the result obtained and other factors. By the way, at least in NY if there is a fee dispute between an attorney and client, the issue is mediated or presented to a court for determination.

I wish bankers and financiers and real estate moguls had similar oversight on their salaries and bonuses; ie., their contracts should provide that their total salary, bonuses and stock options will be viewed in light of the work they perform and the reult obtained and any agreed amount can be "disgorged" or a lesser amount paid.

I guess now those in TARP institutions are subject to the same standard, but I wish it was all of them.

This thread has succeeded in making me just that little bit sadder than I was before I read it.

But I'd imagine something must have gone wrong for you today if you've felt the need to come and start plain and simple arguments on the internet, so I hope everything is ok.

BK lawyers are among the lowest paid lawyers. Rumor has it that Lawyers tell Bankruptcy Lawyer jokes.

I have no issue with the practice of law. I do have issue with lawyers who are quick to settle in order to collect their 1/3 for doing nothing.

If you ever have to retain a lawyer for personal injury, wrongful death or whatever - ask the lawyer specifically what they are going to do to determine the assets of the person who wronged you and how much they are going to want. I have seen too many times where the lawyer does not even do an examination of assets. They settled only for the insurance amount never learning that the defendant was a multi-millionaire. Maybe because they were dumb, maybe because they were lazy, maybe cecause they think going after more than the insurance is 'too hard'. (nevermind that you don't need a lawyer to get an insurance claim) At least 50% of the time I've seen lawyers who represent their own interests far more than their clients.

Too bad that it is so difficult to report bad lawyers. They seem so intent to regulate every other industry but they defend their own with rabid ferocity.

Two whole years ago... is that the best you could do?

Oh it was 2 years ago? I guess that means you weren't really lying!

BK lawyers are among the lowest paid lawyers. Rumor has it that Lawyers tell Bankruptcy Lawyer jokes.

I have no issue with the practice of law. I do have issue with lawyers who are quick to settle in order to collect their 1/3 for doing nothing.

If you ever have to retain a lawyer for personal injury, wrongful death or whatever - ask the lawyer specifically what they are going to do to determine the assets of the person who wronged you and how much they are going to want. I have seen too many times where the lawyer does not even do an examination of assets. They settled only for the insurance amount never learning that the defendant was a multi-millionaire. Maybe because they were dumb, maybe because they were lazy, maybe cecause they think going after more than the insurance is 'too hard'. (nevermind that you don't need a lawyer to get an insurance claim) At least 50% of the time I've seen lawyers who represent their own interests far more than their clients.

Too bad that it is so difficult to report bad lawyers. They seem so intent to regulate every other industry but they defend their own with rabid ferocity.
You report bad lawyers to the state disciplinary committee that governs them. Based on what you want a lawyer to do, and they should do what you are suggesting, I think they earn their 1/3 fee. I disagree with you about not needing a lawyer to get an insurance claim, you have not dealt with insurance companies lately I bet! Their operating mode is "denied" and then they wait to see what the insured does.