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&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;There&#39;s an old joke whenever some new law is passed: &amp;#8220;That&#39;s a &amp;#8216;full employment act&amp;#8217; for lawyers!&amp;#8221;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Hilarious, right?&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;In law school, I heard different professors make this crack in reference to the Bankruptcy Code, &lt;?xml:namespace prefix=&quot;st1&quot; ns=&quot;urn:schemas-microsoft-com:office:smarttags&quot;?&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;&lt;span class=&quot;toctext&quot;&gt;New York&lt;/span&gt;&lt;/st1:placename&gt;&lt;span class=&quot;toctext&quot;&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;State&lt;/st1:placetype&gt;&lt;/span&gt;&lt;/st1:place&gt;&lt;span class=&quot;toctext&quot;&gt; trusts &amp;amp; estates laws&lt;/span&gt;, and the Internal Revenue Code.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/span&gt;Lately, amid the meltdown, the &amp;#8220;full employment&amp;#8221; meme pops up in articles on everything from emergency legislation to the interplay between lawyers and various economic phenomena. &amp;nbsp;To wit:&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;ul&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;$700 billion bailout bill&lt;/div&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The prospect of major corporations suing financial institutions&lt;/div&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The Truth in Lending Act&lt;/div&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The backdating scandal of 2007&lt;/div&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The subprime collapse&lt;/div&gt;&lt;li&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The quest for a global RFID standard (You know, the radio-frequency identification used in enterprise supply chain management) &lt;/div&gt;&lt;/div&gt;&lt;/li&gt;&lt;/div&gt;&lt;/li&gt;&lt;/li&gt;&lt;/li&gt;&lt;/li&gt;&lt;/li&gt;&lt;/ul&gt;&lt;div class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;The joke is meant to be a self-mocking reminder that&amp;nbsp;lawyers make lemonade from lemons. But for current students and young associates, the premise is increasingly&amp;nbsp;obsolete.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;/div&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot; align=&quot;right&quot;&gt;-posted by brian&lt;/p&gt;

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