Who Knew Bankruptcy Paid So Well?

[keepinitreal]

http://www.nytimes.com/2010/05/02/business/02workout.html?ref=business

[AngelinaCatHub]

And the vultures circle...... 'Hub

[Flamingo]

Big dollar ventures call for big dollar lawyers - they get the best and they pay well for it. Working with many lawyers for many years, I can tell you that they work long hours beyond what one thinks they do so when you have a case like Lehman Brothers and an extremely complicated BK, it's a no brainer...granted the limo charges and the like can be cut down but our government (state and federal) do the same thing we just don't know about it. Remember the outcry about Air Force One doing a fly by over NYC and the cost? If no one reported that matter, no one would have known what that venture cost the taxpayers. Also, remember, in the article megacases are described...these are matters that go beyond and over a regular bankruptcy. Think Donald Trump...I am sure his limo and other expenses are right up there also when he filed BK numerous times.

And remember - if a megafirm, regular business or a regular person didn't have to file BK, there would be none of these costs and fees for them to incur or others to pay for. Lawyers are in a business to represent clients just as one retains a doctor or CPA. They are only consulted when needed. It's business and they don't have to be retained if not needed or someone thinks they are too expensive.