Daily Diary

Leveraged levity at Sullivan's expense

Posted 12/03/2007 by The Daily Diary

If you are getting sick of reading the escalating pile of poor-me-City-law blogs, surely nothing could be finer than reading about some other professionals' lives, especially if they’re making 10 times as much cash as lawyers but are just a miserable.

Which is why some leveraged finance lawyers having taken to reading leveragedsellout.com - an everyday tale of private equity folk and investment bankers in Manhattan that reads like a cross between Bridget Jones' Diary and American Psycho.

Highlights include a speed-dating service that brings together shallow-but-beautiful women and rich bankers, as well as what happens when arrogant bankers get into a school-yard smack-down (“thankfully for the global economy, neither of them was seriously injured”).

Perhaps of most interest for a legal audience will be the section taking extensive mick out of corporate lawyers as a bunch of failed M&A bankers, for which the venerable Sullivan & Cromwell gets the brunt of the slapping.

Choice sections include “Sullivan is a ‘V5’ firm. Law is apparently so pure-breed that they’ve gone with TheVault.com as their official prestige benchmark”; and “Andy got into Law School. I won’t say which but he got into one of the Top 14 (yes, law is indeed that elite that 14 schools are considered prestigious)”.