The Sad Decline Of The Lawyering Class

Even with the recent dip in the credit market, lawyers show plenty of hedge fund and private equity envy. Who can blame them? Literally and figuratively, lawyers live in the shadows of those financial gods. They share the same upscale neighborhoods, eat at the same trendy restaurants and relax on the same stretches of white sand in the Hamptons. The difference is that Wall Streeters will buy three or four apartments and combine them, and pick up choice properties by the water. "Our place is on the poor side of town — north of the highway [away from the water]," says a lawyer, sipping a drink poolside at her East Hampton weekend retreat. "Only the bankers can afford the south side."

Rich Lawyer, Poor Lawyer [American Lawyer]