NOW THE RECESSION IS SERIOUS: Downturn Dims Prospects Even at Top Law Schools. “This fall, law students are competing for half as many openings at big firms as they were last year in what is shaping up to be the most wrenching job search season in over 50 years.”

Money quote — more or less literally — “Had I seen where the market was going, I would’ve gone to a lower-ranked but less expensive public school.”