Friday, February 26, 2010

Waiting For Godot

"Let's go. Yes, let's go. (They do not move)."

"Tom,

I am very frustrated. After being out of work for a couple of weeks, I got a call to start a project early last week. I was very excited. The day before work was to commence, and after tying up some last minute business, I received a call from the agency informing me that the project had been pushed back to the following Monday. After a long weekend revving up for work, I was informed by email that my project had been pushed back again. A couple of days later, the project (you guessed it) was pushed back, yet again! Screams with frustration.

Foolish me, I called the agency seeking clarification. The lady immediately became snippy, saying that the client was having issues, that they were thankful for my patience, and that I was just going to have to remain on standby. I kindly informed her that I was having issues, that I was precluded from seeking out other employment opportunities, and that if something else came along that I might have to take it. She barked back, saying that I had already agreed to be submitted for the project, that if I 'quit' that I would 'do what I had to do,' before hanging up on me.

Sadly, she probably just doesn't care. By crossing me off her list and dumping my husk on the side of the road, she probably has hundreds of other sorry saps "on standby" eagerly waiting for the job to nowhere. Sadder still, the diploma mills will be pumping out an additional 45,000 victims, and India has thousands of semi-literate reviewers who will work for five dollars an hour."

115 comments:

Anonymous said...

Your experience is what I've experienced with several agencies since November, 2009. It appears that there are several new entrant staffing agencies that are given a shot at projects primarily by plaintiff's firms, and they each are alloted "x" slots, or go head to head to staff the entire project...it is a complete dog eat dog world out there even for many of the staffing agencies who don't have a partner from a feeder firm owning a piece of the pie of the staffing agency (and who also provides cash flow/credit to the agency so that the law firm can meet its AA quota outside of the usual permanent hires). It looks like the only hiring in NYC is occuring on the permanent front but I also hear that people are lining up at the Brooklyn DAs office and at the NYSSCt's to work for free....so maybe the real issue is head west/midwest or south, leave NYC, and just figure out something else....time is ticking and UE benefits are running out and don't count on extensions for those who filed after September, 2009 regardless of what talkies are leading you to believe...we are on our own..so cut your losses immediately.

Anonymous said...

It is very dog eat dog.

You should have not stopped looking for work until your behind was firmly planted in the clicking chair. Even then, the project can end at any second. Not having to hustle for work every second of every day is nice, but you can't afford that luxury in this market.

Anonymous said...

It's not just the new agenciess. I've seen these happen multiple times with Tower (the worst culprit), which used to be a good agency, Lexolution, and Hudson (who has a penchant for overstaffing and blatantly lying about the lengths of projects.). Oh yes, and Compliance. In any other field (with my hairdresser, for christs sakes) you can charge a cancellation fee. Here, we are like illegal day workers standing by the side of the road. Disgusting!

Anonymous said...

I think our time is better spent finding any employment period. Recent financial times stating 5mm will exhaust UE in Junem, 2009, and reference is being made top Bunting (KY) blocking any UE exntensions, and particularly so for those exhausting their tiers. For those who filed after 9/2009, forget it period. Head out of NYC guys....another perfect storm heading our way, to top the last 3 years....try farming or fishing for salmon or other.....things seem to be heading to "ugly"....Only good news out there is that they ran Patterson out of Albany finally.

Anonymous said...

My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.

The Yuppie Attorney said...

"Sadly, she probably just doesn't care. By crossing me off her list and dumping my husk on the side of the road, she probably has hundreds of other sorry saps "on standby" eagerly waiting for the job to nowhere."

* * *

Headhunters don't care. The system is set up, so it encourages her not to care. If you leave; she will still get paid. If you leave; she will still have a job. If you complain to her boss; she will still have a job. She will still get new bodies to hustle, because that is how the game works. The only thing she loses is the 3 mins she talked to you on the phone.

Don't play games where the odds are so stacked against you you can't win!

Anonymous said...

I like the previous comment "don't play when the odds are stacked against you". My additional response is that it always smarter, when the odds clearly are against you, to move the next table...find a better game. Don't waste your time, your talent, and your life. You only have on shot at all of it.

Anonymous said...

I love all the post by David Perla's minions telling all of us to quit our jobs and get out of the law.

Hey, this our work! We are licensed JDs, who went to three years of school to achieve the JD, took the bar exam, pay for bar dues and CLE.

Stop telling us to "move on" or "find something new". I would encourage all those engaging in the unauthorized practice of law in India to STOP YOUR ILLEGAL PRACTICE NOW.

Anonymous said...

"[A]nd who also provides cash flow/credit to the agency so that the law firm can meet its AA quota outside of the usual permanent hires"...hhmm??

Anonymous said...

"Don't waste your time, your talent, and your life. You only have on shot at all of it."

Probably the only uplifting thing I've ever read on this blog...

Jubilee Now said...

THROW OFF YOUR CHAINS SNUGGIE PEOPLE!!!

YOU HAVE NOTHING TO LOSE BUT THE DEBT THAT ENSLAVES YOU!!

Anonymous said...

Is anyone interested in compiling a list of agencies and law firms that use foreign/Indian contract attorneys to do US litigation work, i.e. discovery/document review? Are these attorneys required to be barred in a US jurisdiction? Are there any good sources on this topic especially re: the first company to do this and the year it started? Thanks!

Anonymous said...

I think pangea3 is one of the early entrants into this practice. Also, Integreon, I believe is also a pioneer of the unauthorized practice of law offshore.

Anonymous said...

For those who are interested in some helpful news.

a) Income based repayment for your public student loans

b) Formation of a new labor union for the unemployed (and I imagine if someone pushes- for the under employed):

"UCubed is the brain-child of the International Association of Machinists and Aerospace Workers (IAM), whose leaders feel that the millions of unemployed workers need a union of their own to join in the struggle for massive jobs programs."

"The idea is that if millions of jobless join together and act as an organization, they are more likely to get Congress and the White House to provide the jobs that are urgently needed. They can also apply pressure for health insurance coverage, unemployment insurance and COBRA benefits "

http://www.alternet.org/economy/145797/the_unemployed_now_have_their_own_union%2C_and_it%27s_catching_on_quickly

If you are interested in these issues, please check out their site at:

http://www.unionofunemployed.com/

Hope this helps some one.

Anonymous said...

Re: Union for the Unemployment

The Union already has members in 43 states although it is a new idea. So, if you are interested, it is not like this site where people are all talk plus it has the backing of a major union behind it. So, this is unlike anything we have seen come down the pike recently.

Jessica said...

It's not just the new agenciess. I've seen these happen multiple times with Tower (the worst culprit), which used to be a good agency.It's not just the new agenciess.


Bankrutpcy Attorney Temecula

Anonymous said...

DENOVO IS ON THE LIST RE: OUTSOURCING TO INDIA:

Bodhi Global Services announces Global Document Review capability
– Mumbai, India, June 27, 2007

Bodhi Global Services is proud to announce that it has partnered with De Novo Legal to offer a global solution to Document Reviews. Bodhi Global was founded by Ajay Bahl, Zia Mody and Bahram Vakil, the founders of one of India’s top law firms – AZB & Partners – and the Patni family, one of the leading world providers of IT infrastructure for outsourced companies. “We believe that through our partnership with DeNovo Legal, we can provide a top drawer and global solution to Document Reviews, thus preserving high quality and driving down costs significantly,” said Arihant Patni, Bodhi Global’s CEO. Bodhi Global has document review facilities in Mumbai and Pune, India. De Novo Legal is one of the leading US providers of outsourced services for Document Reviews, with Document Review facilities in New York, Washington DC, Atlanta and Houston. “Our clients continue to demand cost effective Document Review solutions and our partnership with Bodhi Global will solidify our vision for providing complete on-site, off-site and off-shore Document Review services. The global platform will provide our clients with the industry’s most cost effective solution to operate Document Reviews, large and small, wherever required,” says Rob Singer, CEO of De Novo Legal.

Anonymous said...

As to partners of law firms providing cash flow/credit to feeder staffing agencies to stay aflot, enable them to pay doc reviewers peanuts, while billing client 3 times the rate paid to doc reviewers, and simultaneously achieve their AA quotas...heh, partners are not saints, and certainly they are getting quid pro quos along the way. The quid pro quos are going both ways between law firm and staffing agency...."Hmmmm"..hello where have you been? And yes, there are ALL sorts of problems, but it doesn't seem the Managing Partners of these law firms care...they have their priorities I guess.....pretty slimmy indeed!

Anonymous said...

Unions are not the answer, forget about it - just a legitimate form of the mob. Thank you, no thank you.

Anonymous said...

How much do these agencies get paid?

Anonymous said...

United We Stand Divided We Fall

Anonymous said...

Has anyone had experiences with solo practioners? I just got a job offer but when I asked the guy for an official letter of employment he ignored my e-mail for several days - only when I threatened not to come in did he issue me a scrappy e-mail with the basics. Is this standard practice? I feel uncomfortable working with such an employer.

Anonymous said...

The you more you talk about a union, the greater the incentive to outsource. I do not know one contract attorney that has ever discussed forming a union.

It is a non-issue. Only govt employees have unions these days.

Anonymous said...

If you are uninterested in being in a union, don't join. But the lies that you spew here about organizing is just more of you buying into your own destructions. Americans are so fucking stupid.

You see the word "union" and the years of indoctrination comes spewing out even now after your near collapse.

Here's what being organized can do for you: a) you can lobby Congress to address the trade issues that outsources jobs abroad (only a complete idiot would say that unions will lead to outsourcing your jobs since this is not a union for the employed) and b) better safety next so you are not as impacted when you don't have a job.

It was these sorts of organizing efforts that placed pressure before in this country to change things around. They raised the standard of living. We are endanger of reversing those gains all because you are so wedded to your own ideological beliefs.

These are the kinds of things you can't do as individuals and never could. Yet, you are so quick to dismiss the idea of lobbying Congress as a group.

Let me put it to you in a common sense way: What's more convincing to you, one person saying we need to change trade policy or a million? If you answer one person, you are too stupid to succeed.

Sonia said...

Name names.

Who pulled this stunt? I bet it was Scott Krowitz, the human scuz bucket.

Anonymous said...

11:45 - It's not indoctrination but rather reality. Only a moron would talk about unionizing in a depression like we have now.

The General Counsels at Fortune 500 companies created outsourcing to lower wages across the board and create global competition for services. This is done to eradicate all hope of organization and unionizing. It has succeeded far beyond their wildest dreams.

If you don't get this, too bad. There will never be a union for temp attorneys, ever. We will be lucky to even find work with the rush to have our jobs performed by unlicensed foreigners.

I would shift towards survival and paying rent before ridiculous idealism like unions.

Pull your head out of your ass. It's not indoctrination but rather bargaining power. We have none.

Anonymous said...

During the Great Depression, the Council of Unemployed workers amongst other unemployed workers came together and they lead to many of the things you take for granted now including unemployment insurance, pushing for the minimum wage and issues to help renters. They are part o the reason that FDR created the New Deal. Your ignorance is not surprising giving the 30 years of indoctrination that you now believe as "fact" but it is indoctrination rather than history. I can go through more but frankly if you weren't so fucking retarded you would have looked this all up yourself before posting here.

Anonymous said...

Let me follow up with one other point: Your docility guarantees everything you claim you are against. You say that there are problems finding jobs, with a lack of native lawyers being treated fairly versus those abroad, etc. The interesting part is that you don't see yourself as a part of a greater problem that all Americans face. You are too self absorbed as are most Americans after 30 years of "me, me me" to realize there were once other ways. I don't think you are against your life being screwed up at all. I think you enjoy being stuck like this. You enjoy having the excuse to be miserable. I think some of you get off on it.

Stupid Sexy Flanders said...

Interesting back and forth about unions.

I think unions are a thing of the past. They are arguably most effective for jobs which require a human presence at your immediate area. Jobs like police officer, firefighter, bus drivers. Desk jobs do not fit into this category.

Unions of the past did many things (minimum wage, safety nets, etc.), but we live in a very different environment than the 1930s.

The most important difference is that we are now a global labor force. Companies move their jobs offshore not because it is superfun or because they want a reason for a business trip to an exotic third world country. Companies need to lower their costs. Unions inherently raise costs. So I think you can see what the anti-union guy is talking about when he said creating a union would probably just speed up offshoring.

There are only two ways to get jobs to stay in America:

a) be competitive on wages

or

b) have higher wages but deliver a superior product/service.


option (a) is probably not going to happen anytime soon. Although, wages in China and Vietnam have been skyrocketing. At the same time, it'll just take too long, especially when considering "skyrocket" in China's factory wages means going from 90 something cents an hour to $1.17/hr.
http://www.nytimes.com/2010/02/27/business/global/27yuan.html?ref=asia

option (b) is probably the better way to go. Here's an interesting article about people who work from home and are call center reps:
http://money.cnn.com/2010/02/23/smallbusiness/alpine_access_work_at_home/index.htm

of particular note is this section:
"Hundreds of companies moved their call centers overseas over the past decade to cut costs, but Carrington says the center of gravity for U.S. businesses is shifting back: "Seventy-five percent of our revenue growth is from companies that came back from India and the Philippines," he says."

Anonymous said...

a) there are lawyers unions for public sector lawyers that work extremely well. Again, this is about a general ignorance on the subject.

b) more importantly, unions are not the point. Organizations are. You are not going to change a damn thing if you are not organized. This would be like a major corporation trying to engage in its activities without being organized to do business. It is just not going to happen. That's not how large scale things happen. You can't go it alone by yourself because of basic laws of economics- scale and size matter along with specialization and other issues to efficiency and time, etc.

Thus, the notion that you have even a chance of changing policies by sitting around whining rather than organizing is per se false. The reality is that laissez faire economics was a thing of the past after the 1930s when the Great Depression happened. Yet, it came back into vogue decades later. So, even that argument over past and present is myopic. People together determine what is or is not possible.

c) Please stop spouting propaganda at me about the limitations of markets. This stuff about the ways to make it in America are the same talking points we have been hearing since childhood. How has that worked out for you? The definition of insanity is to repeat the same actions over and over again expecting a different result. Think differently or die. Those are the two choices right now. Think outside of how you were told the world works.

Anonymous said...

This post "Waiting for Godot" is the story of my life. I am now 80, and mental due to these shenanigans. If your life and confidence have not been totally ruined by temping I suggest you GET THE HELL OUT AS FAST AS POSSIBLE. The pimp recruiters and sleazy law firm johns will suck the soul out of you!!

WHERE IS FATHER EAMON WHEN WE NEED HIM????

Anonymous said...

As usual Sonia is right. Names please so we may avoid these goons...

Anonymous said...

Also avoid Diamond Personnel. They have pulled these stunts MANY times. The entire crew of this agency looks like greasy haired cast members of the Jersey Shore.

Mingle with them at your own peril!!!

Anonymous said...

10:05AM:

Working with solo practitioners is just awful. There is a reason why these characters work alone.

Anonymous said...

Father Eamon I call upon thee to issue some sort of prayer in our time of need. Please Father your children ask for your wisdom and patience.

Anonymous said...

I have had a similar experience with Clutch Legal. Skadden was the law firm.

Anonymous said...

Offshoring
Hudson maintains a partnership with the largest legal-only outsourcing firm in India, where local attorneys, supervised by U.S.-licensed management teams, review documents at a fraction of traditional document review costs.


Onshoring: Alternative Option for Substantial Savings
Hudson Legal maintains several U.S. locations in smaller cities that can deliver a document review at substantial savings over a review done in a large metropolitan market. Housed in our fully-equipped facilities, our contractors are trained and many are certified in the appropriate e-Discovery software, so you can be rest assured that your project is in the right hands. Depending on solution structure, this option can compete with the savings of an offshore review.

Father Eamon said...

Stay strong.

Let not the dishonesty deeds of the legal employment pactitioners blacken your heart over to the wicked.

"Blessed is that man that maketh the LORD his trust, and respecteth not the proud, nor such as turn aside to lies."

May God help all of us.

Anonymous said...

This has happened to me on numerous occasions in the past year. If a project gets delayed, it is probably never going to start. HTH.

Anonymous said...

Oh Father, Thank You. It is a dark night indeed - but your words have offered much comfort and solace. I lay my body down to sleep, soothed by the words of your infinite wisdom.

Praise the Lord, Praise the Lord. Praise Father Eamon and all the Heavenly Angels that shall watch upon us in our darkest hour.

Anonymous said...

FYI, Simon Nagel, the infamous Dechert associate formerly in charge of the Philly Vioxx review, is now Director of Business Development for Hudson Legal. It's funny how this shit works.

Anonymous said...

Yes unions are part of the answer but only part. Someone posted that it will just make off shoring happen faster, which is probably true, the other part of the answer is you need to vote, you need to write letters call and complain to your congressman, and you need to take to the street and punish those who ignore your plight. Right now the companies run EVERYTHING, including the government, the only way is to get it back is by fighting. You want to stop it take action and demand that ANY company that out sources jobs pays a 500% tax, plus a 200% tax on top of that for any goods products or services sent into this country.
Getting out of the legal "profession" won't help you either because it is the entire country that is in the same boat. There is no where else to go, so you must stop acting like sissys and fight. You have the legal means to do so, and you have the legal training to do so, and yet what have you done?

Anonymous said...

To the person who posted:

"The definition of insanity is to repeat the same actions over and over again expecting a different result." This is laughable indeed.

First of all, that statement may be a fine bumper sticker, but needs to be moderated. Have you ever heard of "If at first you don't succeed, try, try again."? The reality is somewhere in the middle. Everyone who owns a vehicle knows this. SOmetimes we turn the ignition key and the engine fails to catch. We turn it again a second later and the engine starts. As human beings, it is our nature to try something at least several times. This is because circumstances change. You can't just give up every time you run into an obstacle. Of course, you can't try the ignition a hundred times over. There's a moderate in-between road.

Secondly, you pretty much contradict your own advice. If a particular approach is failing and has been failing for a long time, you might want to switch approaches. That's a fine statement to make. You ask "how has that worked out for you?" Well, I ask you the same question. How has the whole "let's organize" and calling others "ignorant" been working for you? Have you seriously convinced anyone to your point of view by calling them names? How has the whole let's organize movement worked out for the steelworkers and auto workers who have seen their jobs offshored? How long have temp attorneys been trying to organize? Look at posts on this very blog 2 and a half years ago when there was a writers' strike by television writers. People urged temps to do the same. Fall of 2007. Temp attorneys have been trying for years!! And failing! And now you are attempting the same course of action and expecting a different outcome. Would you consider yourself insane? I wouldn't say you are, as I believe in attempting things that are worthwhile even if you've failed at them before. In a sense, I support your attempt more than you do with your definition of "insanity."

Baxter Davenport III said...

Oh shut yer whining and marry rich like I did.

Anonymous said...

Where is everyone?????
Does everyone have the SWINE FLU??
Is everyone at TOWN HALL MEETINGS???
Is everyone printing money at the FED???
Are they snowed under by SNOWMAGGEDON????
Where is everyone???? Whatzzzz going on????

Anonymous said...

To 320

Do you offer anything to refute what I wrote or the examples I give. No.

You seem to argue bare assertions that you think trumps what are historically proven points about the value of organizing.


You end by going into an ironic tirade about how difficult your struggles are without realizing the irony of why they are so difficult.

The reason you and other temp lawyers are struggling is because you are not organized. Simple economics: Who has a bare chance of obtaining the price it wants- a small or large business?

Who has a better chance of influencing legislation? A business with deep pockets or a mom and pop operation?

By analogy, who has the better chance to negotiate salary, an individual or a group?

Before you answer, let me remind you that you just got through whining that your strategy of doing this as an invidual has already failed you.

So, that's the insanity part. You admit you have failed, but then tell me that Ia me I am wrong to advocate a strategy that has worked in other context.

You are not the only industry with temps. I can tell you from talking to some of them that they are treated better. Want to know why? Organization.

You are arguing against one of the basic principles of human existence. Humans, when it comes to mass scale activities like pricing in a market, can get more done working together than they can alone.

This is what you are debating, but are so brainwashed that you actual think you can win this argument. Forget insanity. Let's try common sense.

You might as well say that business organizing into companies is a bad idea. There are no efficiencies of purpose involved in that either by your logic.

I am not trying to convince someone like you. You can't convince the blind to see or a fundamentalist that the earth isn't flat.

My posts are for those who are interested in actually thinking.

I was anti-union and organizing too based on propaganda. But, then, I decided to use the skills that law school and my economics degree gave me by doing some research.

You will continue to insanely think you as an individual can beat the pricing arrangement of an entire industry. You will continue to insanely think that organization will not help you address the ABA's decision making process. That you as an individual alone can do it.

Meanwhile the other side is highly organized and coordinated. That's the indoctrination part. They have convinced you that you that you should organize while they are highly organized. Completely insane.

Anonymous said...

Here's one group, of course they have very poor English, but that's par for the course.

"India's premier Legal Process Outsourcing (LPO) Company, pledged to provide Efficient, Effective and Economical Legal Support Services to its global clientele in the current dynamic and competitive global business environment. Acumen's LPO expertise is utilized by Corporate Bodies, Law Firms, Research Firms and clientele from various other fields.
Acumen is diligent in meeting the objectives of its clients with the support of experienced and qualified cross-functional team of legal practitioners, professionals and scholars. Easy accessibility, prompt and quality service at an economical cost, backed by high degree of Client Confidentiality and Data Security differentiates Acumen from other service providers."

Anonymous said...

4:53-

You've made good points. The problem is that people who have the energy and drive to organize are people who give a shit about life and themselves. Sadly, temp attorneys don't.

Even though I'm temping, after reading all the racist shit on this blog, the last thing I would wanna do is make allies with other temps (most of the ones I've been on projects with have been white). Why bother? They hate me because I'm tan, and after knowing what their true feelings are about people of color, I sure as hell don't want anything to do with them.

Anonymous said...

It's a waste of time to try to organize and do something politically. It's insanely difficult even with a great cause, defined goals, and a wide range of supporters. Look at how hard people worked for the civil rights movement, and look at how far behind minorities STILL are now.

Right now, in this world, there is nobody capable enough to fix the mess the world is in. If somebody could actually solve the world's current economic problems, then I believe that person is the freaking Anti-Christ and the end times are near.

Anonymous said...

855

You espouse strong critiques of my argument. A large portion of our coworkers are not trust worthy for various reasons including racism, ideological beliefs, short term gain, psychological issues, not giving a shit about life, etc. Organizing worked in other context required gaining a vital mass of people who came together to overcome differences.

And, even then, overcoming these differences was not simple. Early unions had problems with racism. Social security excluded blacks when it was first started. Etc.

I don't really have a solution to the trust problem. That's the biggest victory of the conservative movement in the U.S. Breaking down trust by making us all think all we have is ourselves. The bigots definitely help that argument. Not sure what to do about them.

I can also understand not want to spend anymore time around some of your co-workers than you have to.

917

Your arguments are weaker. They amount to "it is too hard." Yes, you have tried to easy route. How has that gone for you? The easy route was going to law school thinking you could avoid the economic calamity that the U.S. middle class is now facing. I think the other poster provided a stronger critique because I don't know how to overcome those arguments, but yours is fairly easy.

Anonymous said...

The temp world is WAY too transitory for a union. Most people are not exactly making a career of it. They do it between jobs or because they want to travel or while they're starting to solo.

Anonymous said...

9:20:

Ok, go overcome it then. It's easy to sit around talking about how you've "solved" problems when you don't have to actually do anything about it. It's harder to actually get a result.

Anonymous said...

11:21

It is really easy to wallow in your own shit while telling everyone there is no choice but to wallow in shit. A nice built in excuse to explain why your life is what it is. The hard thing is to do something realizing that it probably will not work out, but the only other choice is to wallow in your own shit. Therefore, doing something is better than nothing. I've been doing this for myself for the last year. Don't presume to know me. You don't know me. You just know your own shit. I know the stench blinds you. But don't put any of it on me.

Anonymous said...

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Anonymous said...

Let's move to a new topic please, such as someone providing a list or overview re any doc review projects out there, on-going or anticipated e.g. other than off-shore. Not interested for purposes of bagging anyone to replace them on a project, just interested in getting a market overview for purposes of making long-range planning decisions, if to close up shop in NYC permanently, or hang on for spring projects e.g. in light of summer's court closedown and parters' needing work done fast due to SOLs. Thanks.

Anonymous said...

12:47

You're just a bitch that whines on the internet, I know you just fine. Just reading the garbage you write informs me enough about your situation. You don't know me at all either you stupid fuck.

What have you ever done besides be a click monkey and post garbage anonymously on an internet web page? You don't even have the guts to identify yourself, and you think you're going to be some sort of revolutionary? You think this is just some game you can decide to do and then things will happen?

You're a child to think it's a simple matter. You have to define your goals and find a way to organize support. I tell you that's difficult and you throw a fucking hissy fit, how the fuck do you think you'll actually manage to lead anything with that pussy attitude?

I don't work as a temp, I'm here because I agree with Tom's stance on plenty of issues outside of temping. Sounds like you're a temp looking to organize doc reviewers, my life already is better than yours.

Anonymous said...

Whoa, Whoa...does this last blogger have issues or what....seems a bit cognitively disorganized as well as operating on assumptions and hostility. Feel very sorry for you whoever you are...lots of lashing out there, bud...see a shrink...time to find one it seems, or maybe off your meds.Whoa.

Anonymous said...

10:05-

LOL- well, people go insane when they've lost an argument.

Anonymous said...

Guess so..and by the way as to the blogger pushing for unions, think you are very wrong on that one..it is a guy..so where are you coming from, broader than losing an argument it seems....see a shrink! Must be very stressful for you presently. Been there. Lashing out with hostility and personalizing things still is a REAL bad idea, your just dumping your internal trash on others.Pull it together, otherwise, rather tiresome.

Lifer said...

How does one rev up for work for an entire weekend? You're joking, right?

Anonymous said...

Union guy here. But more accurately organization guy since organizing is not limited to unions.

I suggest you get off your butts, stop wallowing in your own shit with pointless rants and your response?

Further rants about how the guy suggesting you do more than rant is in fact angry. Thanks for the laugh.

Anonymous said...

Gov. Chris Christie wants to get the federal government to forgive New Jersey's mounting unemployment debt.

Christie met for an hour Monday with nine of the state's 13 congressional delegation in Trenton.

Sen. Robert Menendez says it's unlikely the feds would forgive New Jersey's $1.2 billion — and growing — unemployment debt.

The governor recently proposed trimming benefits to the unemployed to blunt a steep tax increase on business owners. The increase would take effect July 1 and is based on the amount of money in the state's unemployment insurance fund.

New Jersey's fund ran out of money months ago and has been borrowing from the feds to meet its unemployment claims.


Last week, Christie ordered sweeping spending restrictions in a bid to gain control of the state's 700 agencies, boards, authorities and commissions. Under an executive order, Christie told all such agencies to terminate lobbying contracts as soon as legally permissible. The governor also capped all travel by employees of the authorities at $250 unless otherwise approved by the governor's office.
Christie has asked his Cabinet to evaluate the authorities and recommend which ones to cut by May 15.

Christie defeated Gov. Corzine in New Jersey's gubernatorial race on November 3, 2009.

Anonymous said...

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Anonymous said...

My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.

Baxter Davenport III said...

What a whiny bunch of bitches - the union and non-union people, that is. What's with all the rage non-union guy. No wonder you guys are where you are at. Yawn....

Anonymous said...

Don't worry my friends. The end is near. First Haiti, now Chile, USA may be next. Societal breakdown looms. You will only need your survival skills.

Anonymous said...

Sarah Palin stormed the bestseller list last year with "Going Rogue"-a political memoir whose title coyly referenced the former GOP vice presidential nominee's supposed defiance of the consultants running the McCain campaign. But this year we have a new poster boy for the Going Rogue playbook: GOP Sen. Jim Bunning of Kentucky. For the past week, Bunning has been single-handedly blocking more than a million Americans from receiving unemployment and COBRA health insurance benefits, as of today, when their benefits funded under the 2009 stimulus law run out. The suspension of benefits affects everyone from doctors to government employees.

Since cutting health and unemployment benefits isn't the most popular thing to do in a job-starved recession, the Senate had reached near unanimity on extending these programs. But near-unanimous isn't enough when senators are looking to stretch out the lifespan of benefits about to lapse-they need to reach unanimous consent. And that requirement has delivered a great deal of power into Bunning's hands-- power that has allowed him to block the extension until the Senate find $10.3 billion in spending cuts elsewhere to fund the safety-net spending.

"I believe we should pay for it," Bunning said. "I'm trying to make a point to the people of the United States."

Bunning has long been something of an outlier, even within his own caucus. Last year, he announced his plans to retire, having received de facto votes of no confidence from most Senate campaign strategists. And now that he's got nothing to lose next November, he's bucking all kinds of pressure from GOP leaders, who argue that Bunning's quixotic stand has done nothing to improve the party's "party of no" image.

And indeed, Bunning has seemed oddly cavalier about the broader fallout from his one-man crusade -except that is, when it comes to his own college hoops-viewing schedule. "I have missed the Kentucky-South Carolina game that started at 9:00 and it's the only redeeming chance we had to beat South Carolina since they're the only team that has beat Kentucky this year," he said on the Senate floor last Thursday night. Later, when a Senate colleague pleaded with him to drop his objections to the extension, Bunning reportedly responded by saying, "Tough sh*t."

Many on the right and the left have weighed in on Bunning's stance in recent days. The Atlantic Monthly's Megan McArdle called it "political poison," as she says that even conservatives are sympathetic to the needs of the nation's jobless right now. She added that Bunning's efforts would probably be better served if he found "some useless defense appropriations to complain about" instead. And well before this latest flap, blogger Matt Welch wrote in a review of Bunning's odd, belligerent career that the lawmaker has obviously "lost his marbles."

Still, some conservative writers are hailing Bunning's efforts. Redstate.com, for instance, praised the senator for "standing strong for the American people," adding that Bunning showed courage in daring "to ask the simple question of how these extensions would be paid for."

One thing is quite clear: Senator Bunning is not backing down. When questioned today by ABC reporter Jonathan Karl in the hallway of the Hart Office Building, Bunning refused to answer any questions about his actions. When Karl attempted to follow him into the elevator with a cameraman in tow, Bunning yelled "Excuse me! This is a Senator's only elevator!" And to drive the point home, Karl writes, the senator "walked toward the elevator and shot the middle finger over his head."

Anonymous said...

And how does this relate to temping - unless Bunting and and/or the reporter are temps???

Anonymous said...

If you're a temp and are expecting to receive unemployment benefits, Bunting just screwed you. That's how it relates.

Anonymous said...

Our government is going broke, no money to placate displaced workers.

The people of Kentucky will applaud this action, as it will save millions, especially those in liberal bastions like NYC

Chris Christie is going to cut NJ benefits, too. I think New Jersyans are receiving up to $600 per week, among the highest in the nation.

It's not about right or wrong, but the reality that we have to start cutting back on services as tax revenues plummet.

We can't have it both ways, bitch about taxes and government spending and the cry when something is cut that affects you.

Get over it.

Dr. Strangelove said...

We need a world war...a full scale nuclear excahnge.

Nuke the world and start over.

Dr. Strangelove said...

We need a world war...a full scale nuclear exchange.

Nuke the world and start over.

Anonymous said...

"Waiting for Godot" is treated like doo-doo because he can be.

His costly so-called skills are worthless and there are millions of people who can do the same thing. Now all over the world plus foreigners like Nigerians in the USA.

Anonymous said...

"United We Stand Divided We Fall"


ha ha ha

True, but did you ever see lawyers help each other? On the contrary they're happy when someone is fired because it means more work for them.

Lawyers only go to law school and get into this business because of prestige and image - i.e., to be better than the guy sitting next to them.

"I am prestige. I am a counselor at the law. I am associated with a top AmLaw firm."

Whenever there is a problem on the job you can see the "lawyers" working there sit there quietly like deer in the headlight rats.

Anonymous said...

1.2 mil people without unemployment benefits affects more than those people with benefits.

It affects the overall economy. Those people are not going to be paying their bills or buying things. That means a slow down in the economy.

No sane conservative or liberal economists disputes the multiplier effect that unemployment insurance brings to the economy.

It is dollar for dollar a lot more of an economic multiplier than tax cuts because people who receive unemployment use the money on necessities that in turns stimulate the economy by allowing those people who earn a living from the money spent to spend money and so forth and so on. Tax dollars on the other hand may or may not produce economic activity. It is more likely to result in savings and hoarding, which does not help us at all.

This again is not disputed even by Reaganite economists. So, it is interesting to read the far, far right rantings here.

Finally, voters are so in love with Bunning in his home state that they are sending him death threats.

Anonymous said...

Chris Christie is going to cut NJ benefits, too. I think New Jersyans are receiving up to $600 per week, among the highest in the nation.
______________________________

If you have taxes deducted from NJ unemployment, it comes to $504 a week plus an extra $25 a week from the Feds/Obama, for a total of $529 a week. If you don't have tax w/held NJ is 560 or so.


Much better than NY's crappy $405, but Massachussets is around $715 I believe. NY is hurt badly by the upstate areas where $405 a week lets one live like royalty. In Binghamton you'd be Donald Trump with that kinda loot

Anonymous said...

It appears that the core issue for our "friend" from KY is that the unused or returned TARP money be the source of funding for future UE benefits. It appears that Pres Oz and his Chicago chronnies and union gophers /Acorn gophers e.g. henchmen, want the TARP money for other purposes....even a rocket scientist could figure that one out. Frankly, the guy from KY in my opinion is correct. If they gave it to the banks and it was returned, why not give it/use it to allocate the same monies to the same people presently on UE who directly were effected by the collapse..and to do so without further spiraling us into government bankruptcy...it is a question of allocation source, not blocking the UE on policy....talk to your a great leader about letting go of the purse string for his singular Chicago-land agenda...maybe he might even get rid of Pelosi...I pray daily!

Anonymous said...

Intel president on Charlie Rose today said best workers are American and Indian outsourcing is not much cheaper because engineers are paid more now.

He said he would much rather hire a U.S. engineer because they are best in the world from what he has seen at Intel.

Anonymous said...

Great to see the last blogger's comments re Intel President. Reminds me of what happened in late '70s and early '80s when many manufacturing and industrials decided that heading to the southern states was "cheaper" and in their better interest..only to come running back up north top skilled labor....and people with better educations, in the basic core manner...the southern states seem to have a history to not allowing equal educational standards...sporadic labor force quality....that probably what eventually will happen in the U.S. IF AND ONLY IF states' leaders get off their duff and actually go out and "sell" their state's assets, from skilled labor force, tax breaks, and begin to actually employ teachers with standards and skill, rather than being led by the nose ring by public school teachers' unions and government union leaders...it isn't the rank and file, it is the leaders...by the way the majority of workers in the U.SD, are not unionized, only O's government workers and SEIU gophers etc.....Washington leaders have to throw off the strangel hold of those special interests holding us back, and start selling their individual states' interests, screw D.C. and the federal workers and regulatory gurus. Keep a solid federal system, but make it take the back seat. Fire them all in the upcoming election and next Presidential election, on both sides of the aisle, and start over.

Anonymous said...

a) Bunning is full of shit. He could careless about TARP or the pain and suffering he is causing. This is about sinking the economy for the fall elections.

b) Re: Outsourcing. Yes, my friend who works in engineering management (coordinates projects overseas for his company) said the same thing to me several years ago. After you take into account all the costs that goes into engineering a project abroad, he says you end up saving very little money.

It is all about perception with higher management rather than reality. Therefore, it is nice to see someone recognizing this issue in another industry.

This is why it is interesting to see outsourcing pop up in the legal industry. The legal industry is showing up to the party late just as everyone else is about to leave. The legal industry is even more locally situated than engineering. This is why I am not concerned about outsourcing. It will always only have a limited role to play.

Anonymous said...

No you have to talk to DLA Piper.
They will (threateningly) tell you on your first day of doc review work how much better quality and cheaper Indian legal work is. Of course this shows their associates are bird brains.

Listen to the Charlie Rose program.
The head of Intel is speaking from real EXPERIENCE.

Another thing he said - note this - is that USA does not have enough students to "fill up" its graduate schools. That's why they need to bring in so many foreigners to fill up the B.S. schools.

Anonymous said...

Hire an Indian and a Nigerian, they say that they are better and present "less issues" than Americans.

Anonymous said...

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Anonymous said...

Word on the the street is that De Novo has lowered their rates again. It's now down to $30 per hour (was $40).

Anonymous said...

Outsourcing is here to stay. And even increase. Unfortunately. The David Perlas of the world aren't going to go away.

Anonymous said...

Word on the the street is that De Novo has lowered their rates again. It's now down to $30 per hour
_____________________________________________

it's true- going fwd, all de novo gigs will be $30 flat. As predicted by L4L back on Jan 1 right here in this blog, rates will head nowhere but down this year. In 3 weeks the 3rd Dept has that big swearing-in and thousands of new losers will be signing up for doc review. Dine filled a 130 lawyer gig at only $25 flat a few weeks ago.

Anonymous said...

Outsourcing will die as soon as the first outsourcing law suits happen. They are just like Wall Street riding high until then because people in America don't appreciate risk. They are short term thinkers. No one is thinking "gee what happens if those critical documents are released to the public because I was trying to save a penny."

Anonymous said...

Seems that the talkies are reporting that the guy from KY got what he wanted, in some form...whatever that means. There certainly seem to be many many Americans without jobs who were applauding the guy....there just are so few people in D.C. and in leadership positions in this country, unless it is the usual suspect P.C. the media love that have any spine or guts.....it is rather wonderful to see diversity of ideas, other than the mainstream P.C...there is hope..I like to see a real real tought fight. Renews one's belief that taking the path least traveled is worth it, despite what is reported to be "majority" opinion....two cheers for the underdog and anyone willing to standup....no matter their belief system....heh, that is what anyone wiling to put on a uniform standup for....and thank goodness they are there for us. Take the temporary heat and pain of dissent and worry, it is worth it in the end.Isn't that why you took the oath at being sworn into becoming an attorney?

Anonymous said...

451

Point out the evidence to support that most "Americans" are supporting Bunning. Ron Paul's son, the Birthers and Tea "baggers" are not in the main stream of American thought.

Unless less than 20 percent of the population is now the majority, why don't you just say nutty right wingers like yourself rather than trying to pretend you represent "Americans."

The weird thing about far right wing types is how much they think they represent some silent majority out there.

Anonymous said...

The Senate on Tuesday passed a $10 billion measure to maintain unemployment benefits for the long-term jobless and provide stopgap funding for highway programs after a holdout Republican dropped stalling tactics that had generated a Washington firestorm.

When asked Tuesday if Bunning was hurting the Republican Party, Collins said, "He's hurting the American people."

Other Republicans were more diplomatic in their assessments of Bunning, who has a stubborn and often irascible personality. Bunning is reluctantly retiring at the end of the current term and enjoys a tense relationship with homestate colleague and Minority Leader Mitch McConnell, who privately urged Bunning to step aside.

Bunning had blocked the stopgap legislation since Thursday, insisting that Democrats find offsetting revenues or spending cuts to finance the bill. Instead, he settled for a vote to close a tax loophole enjoyed by paper companies that get a credit from burning "black liquor," a pulp-making byproduct, as if it were an alternative fuel. The amendment failed.

Dick Durbin of Illinois, the Senate's No. 2 Democrat, said that Bunning was accepting an offer that he had rejected for days.

"As a result ... unemployment benefits were cut off for thousands of people across America, assistance for health care was cut off across America, thousands of federal employees were furloughed," Durbin said.

Democrats had promised to force Bunning to repeatedly lodge objections to bringing the bill to a vote. Otherwise it could take almost a week to slog through the procedural steps required to take up the measure and defeat Bunning's filibuster.

"Today we have a clear-cut example to show the American people just what's wrong with Washington, D.C.," Sen. Patty Murray, D-Wash., said. "That is because today one single Republican senator is standing in the way of the unemployment benefits of 400,000 Americans."

Democrats promised to retroactively restore unemployment benefits and health care subsidies for the unemployed under the COBRA program. Transportation Secretary Ray LaHood ordered furloughed employees back to work Wednesday.

The impasse had led to political gains for Democrats attacking Bunning and his fellow Republicans. Major cable news networks carried Tuesday morning's proceedings live and returned to the topic frequently.

Meanwhile, Senate Majority Leader Harry Reid, D-Nev., has called up a $100-billion-plus measure to provide a longer-term extension of unemployment benefits that would last through the end of the year, along with a full-year extension of higher Medicare payments to doctors, help for states with their Medicaid budgets and a continuing a variety of expired tax breaks for individuals and businesses.

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Anonymous said...

The hype over the UE fight for the 30-Day extension only is just that "hype"..the issue was how was/is it being funded. Using the returned TARP funds, rather then leaving it in the hands of Rahm, Nancy, and Obama, in addition to his henchmen fronm Chicago is very very wise. The real fight, not the PR hype over the mere 30-Day extension starts this week with the $150 jobs stimulus bill....to begin this week. Mr. KY did us a big favor....studies have shown keeping people on the public tit, does nothing but keep them on the public tit, rare meat for votes...if one is dependent or co-dependent, they have no choice but to say "yes" and agree with anything and everything the one with the purse strings does or says....wierd if you want that way of life.

Anonymous said...

Hello New Yorkers, Boston-ites, Metro D.C. workers..if you don't think the guy in the WH and his administration is from Oz, how can he propose to eliminate the mortgage deduction for married filed jointly earning more than $250..let's see, then he and Michelle might have had problems paying their mortgage in "the Loop" around University of Chicago, would have been unable to send their adorable daughters to the U of Chicago's private university related grammar and middle school (thus not having the "test on" with it cognitive skills to have been accepted to Sidwell, and the entire formula on his plate without the perks of deductions might have cut into his cash flow to run into various elections "but for" his sucking up to OPrah and Valerie Jarrett e.g. the girls got him elected and he gained off of their backs (usual isn't it). So, what precisely is this guy smoking..WTF....he will kill housing, unless he wants to put his ACORN and SEIU cronies in all the gorgeous forclosed homes..if they haven't blown their bucks opn SUVs and taken out all of their equity from their current abodes....welcome America...Just to save the condo/coop and real estate market in NYC, Blomberg better move this guy out of Pennsylvania Avenue...what is Oz smoking? You though you were going to wipe out your Sallie Mae with your home line of equity credit once your spouse and you can finally afford a home...no, you'll be begging for a job with new" Comunity Service" e.g. ACORN revised and renamed groups ine xchange for O paying your student loans, and renting forever NewYorkers, Bostonites, and metro- D.C. urbanites.....WTF? He is nuts, I think he lives on a different planet somewhere down under, whatever.

Anonymous said...

Dear 7:35 AM:

We get that you are Tea "bagger." No one outside of the 20 percent of crazies is interested in what you are peddling.

We know what the issues are. We know that Bunning could have made his "stand" on other issues, but choose this one in typical far right wing Republican fashion. Not on war appropriations or special breaks for big corpoations. But on hurting the little guy over 10 billion dollars. Both you and Bunning are ass wipes.

No one cares. You are losing elections and only represent 20 percent or less of the population. 79 to 19 was the vote on the right thing to do. Help out people being harmed by your policies that put them there in the first place.

You and your ilk lost in several special elections and a TX governor primaries yesterday even as Bunning folded like a cheap poker table at a whore house to the will of the majority.

So, while people are searching for jobs, barely surviving with the jobs they have, and trying to survive in the meanwhile, why don't you go back to clicking documents, and leave the rest of us alone. We are not interested in your crazy.

Anonymous said...

My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.

Anonymous said...

My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.My law degree isn't worth anything. Law school was the worst mistake of my life. I am in misery and Sallie Mae is my pimp/master/overlord. It's all good though, the Mayan calendar ends in 2012. END GAME.

Anonymous said...

Look into American Express. Heard rumors of 1000+ reviewers in India.

Anonymous said...

DeNovo is paying $30 and you should be happy with this above market rate.

Yes face it USA doc review is as dead as chip making.........Hello India!

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Anonymous said...

Happy news! The government has come up with a 5.9 percent GDP growth rate in the fourth quarter of 2009. The recession is over.

Or is it? Statistician John Williams has informed us that 69 percent of this growth, or 4.1 percentage points, is the result of inventory accumulation. That leaves a 1.8 percent growth rate, and the 1.8 percent is likely due to the underestimate of inflation and other statistical problems.

The Federal Reserve’s own monetary evidence contradicts the recovery assurances from Fed chairman Ben Bernanke. The Federal Reserve continues to pour massive reserves into the banks. The monetary base, which consists of currency in circulation and bank reserves (the basis for new loans), has surged from $850 billion in 2009 to $2.2 trillion on February 24.

Despite this potential for massive new money creation, the broadest measure of money growth is still contracting. The banks are too impaired and so are consumers for the banks to create new money by making loans.

The economy, in other words, is going nowhere.

Anonymous said...

An economy that moves its high productivity, high value-added jobs offshore is going nowhere but down. Except for the super-rich, there has been no growth in people’s incomes for a decade. To substitute for the missing income growth, consumers took on more debt. The growth in consumer debt kept the economy going. However, most consumers have now reached their maximum debt load, and millions went beyond their limit, resulting in foreclosures and lost homes.

There are no jobs to which people can be called back to work. The jobs have been given to the Chinese and Indians.

The economy is set for a "double-dip," that is, renewed decline. This, of course, means larger federal, state, and local budget deficits. The U.S. federal deficit is now so large that it can no longer be financed by the trade surpluses of China, Japan, and OPEC.

Currently the deficit is being financed by deterioration in the Federal Reserve’s balance sheet. The Fed is creating new reserves for the banks (thus the surge in the monetary base) in exchange for the bank’s toxic financial instruments. The banks are using the reserves to purchase Treasury debt instead of making new loans. This makes money for the banks, but does not grow the economy or create jobs for the millions of unemployed.

According to reports, recent auctions of Treasury debt have not gone well. China, America’s biggest creditor, has reduced its participation and is even selling some of its existing holdings. Whenever all of a new Treasury debt offering is not taken, the Federal Reserve buys the remainder. This results in debt monetization. The Fed pays for the bonds by creating new checking accounts for the Treasury, in other words, by printing money.

On February 24, Fed chairman Ben Bernanke told Congress that the U.S. faced a serious debt crisis and that the Fed was not going to print money in order to pay the government’s bills. In fact, Bernanke would have no choice but to print money.

Bernanke’s warning to Congress is his way of adding Federal Reserve pressure to that of Wall Street and former Treasury Secretary Paulson for Congress to balance the budget by gutting Social Security and Medicare. In case you haven’t noticed, no one in Washington or New York talks about cutting trillion dollar wars or trillion dollar handouts to rich bankers. They only talk about taking things away from little people. It is not the Bush/Cheney, Obama, neocon wars that are in the cross hairs; it is Social Security and Medicare.

Other Obama economic officials, such as White House economist Larry Summers, a former Treasury secretary, have called for a middle class tax increase. The problem with this "solution" is that a good part of the middle class is now jobless and homeless.

Money will have to be found somewhere if the Fed is to avoid printing it. During the Clinton administration a Treasury official proposed a 15 percent capital levy on all private pensions to make up for their tax deferral status. This idea didn’t fly, but today a

desperate government, which has wasted $3 trillion invading countries that pose no danger to the U.S. and wasted more trillions of dollars combatting a crisis brought on by the government’s failure to regulate the financial sector, is likely to steal people’s pensions as well as to gut Social Security and Medicare.

The reason is that the dollar’s role as reserve currency is at stake. If the Federal Reserve has to monetize the federal deficit, the world will turn its back on a rapidly depreciating dollar. The minute the dollar loses the reserve currency role, the U.S. can no longer pay its bills in its own currency, and its days as a superpower come to a sudden end. Wars can’t be financed, and Washington’s pursuit of world hegemony will hit a brick wall.

The power-mad denizens of DC will do anything to further the expansion of their world empire.

Anonymous said...

Carol Lamm of the ABA is a fucking bitch!

When she talks about what a great job this is I hope she has to work at the Brooklyn solo practitioner ogling her juicy twins and fingering her and leaving body fluids on the shared phone.

She can then get on her back every night to earn her salary.........until next week when better "work" is expected.

Anonymous said...

I'm happy I voted for Obama.
He's been a fighter for the average Joe.
His speeches are very inspiring, too.

Anonymous said...

Right, you guys merely click away, and wallow in the coffee..how is it working for you..speeches paying your bills? It isn't craziness, what is craziness is merely sitting passively,wallowing, not taking action for yourself, and refusing to think other than what you told....typical post-60's generation raised on TV and lots of material things, never asked to think for themselves, and just part of the group think of "X"ers,
"Y"ers, and whatever else the 80's 2000 education system produced in just moving themn all through the production mill of what is called an eduation..gesuz...no wonder...why bother, own worst enemies. Feel sorry for you guys. You have absolutely no idea what you missed, what you miss, and whatr you'll never experience in what turn out to be a very limited life and economic experience for your generations. Sad indeed.

Anonymous said...

shuddap and gimme a damn job!

Please DeNovo I will take $18 per hour. Just give me the dignity of a job.

Anonymous said...

Richard Matasar: Dean of New York Law School and Chairman of Access Group student loan company AT THE SAME TIME.

Conflict of interest? Not according to Matasar.

Email him and ask him yourself: rmatasar@nyls.edu

Anonymous said...

Matasar is having his cake and eating it too.

But what are you other grads of this rising law school doing about it?

Anonymous said...

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Baxter Davenport III said...

Baxter, partner at white-skin firm here.

Oh shut yer piehole. I have no empathy for you proles. Miserable wretches. I stomp my boot in your face everyday - and don't give a shit. You know all the crap I have had to endure -it's made me a mean sonofabitch.

Anonymous said...

Shut the fuck up, Baxter, you senile old cunt.

Anonymous said...

"Working with solo practitioners is just awful. There is a reason why these characters work alone."

Yeah, I know what you mean. Learning a skill set that someone is using to make over 100K a year and working less than 40 hours sucks. I'd rather get jerked around by recruiters (who aren't even lawyers) and sit like a log in front of a computer 60 hours a week. That's the career for me. I can brag to my friends that I work at BIGLAW as a doc. reviewer.

Anonymous said...

Are other people finding no matter how many agencies they sign up with and resies they send out, the job market is Dry Gulch, Texas?

I spent a lot of money to get a degree from Hofstra and have barely had 1-2 brief doc reviews. Now I am getting rejected for $20 per hr. work. Seriously.

Is there any other work I can do?


I cant think of any option for myself except to go back to school and get any technical skills such as computers.

Where's MY $100k per year job?

When is it going to be MY TURN??

Anonymous said...

Helga's List of Things to do Tonight:
1. Clean the hunting rifle
2. Feed the hunting dogs
3. Get out the night vision goggles
4. Wakie wakie at 3 am and go poach some deer

A girl's got to bring home the groceries...

Anonymous said...

There's a lot of unwarranted c riticism about the work performed in India. I've had a close look at it and it's actually pretty good.

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