alt Hacker NewsSpoke with a banker at a well known investment bank in NYC last week. They told the law firm they want the fees cut in half or they walk. This is to a top 5 law firm. Lawyers are trying to charge the same prices, when both sides know they are working half the hours. This is even at the most premium top end, where an engagement bill can run up to 30 million.
Replies
sensanaty • today at 7:13 AM
Because bankers famously aren't greedy pigs, and they definitely lowered prices for their customers after the efficiencies gained with computerization, right?
throwyawayyyy • today at 5:04 AM
Aren't bankers charging the same prices they were _before computerization_?
cupofnotjoe • today at 5:47 AM
Even if you had evidence to substantiate this, a well known investment bank was never utilizing a top 5 law firm because of the rates it charged.
> Lawyers are trying to charge the same prices, when both sides know they are working half the hours.
An absurd claim presented without evidence.