http://lawnewschicago.com/2009/04/25/law-firm-bubble-was-bound-to-fizzle-experts-say/ The latest on law firms, courts, cases and the business of law in Illinois Thu, 29 Oct 2009 14:08:46 +0000 http://wordpress.com/ hourly 1 http://lawnewschicago.com/2009/04/25/law-firm-bubble-was-bound-to-fizzle-experts-say/#comment-5 Paul Fisher Mon, 27 Apr 2009 23:43:36 +0000 http://lawnewschicago.wordpress.com/?p=35#comment-5 It is absolutely right that chasing PPP (which is the more common way to describe profits per equity partner) was a fool's game and became an obsession. However, it was running in parallel with the crazy leverage encouraged by government housing and tax policy (which many people warned was inevitable). As asset and credit deleveraging blew up the market, it was obvious law firm deleveraging would happen in tandem. It may be one of the few silver linings in this market. It is absolutely right that chasing PPP (which is the more common way to describe profits per equity partner) was a fool’s game and became an obsession. However, it was running in parallel with the crazy leverage encouraged by government housing and tax policy (which many people warned was inevitable). As asset and credit deleveraging blew up the market, it was obvious law firm deleveraging would happen in tandem. It may be one of the few silver linings in this market.

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