Across the country, college classes are starting. In each of these classrooms, students are struggling with calculus, trudging through Candide, and wondering just what the hell they're going to do with their degrees upon graduation. The last of these is characteristic of every college student, especially those of us, with the foresight fortitude recklessness zeal to major in liberal arts fields (in my case, Philosophy).

The anxiety is a bit higher this year, given a high rate of unemployment, the likelihood of a "jobless recovery" and the fact that it could take years for destroyed value to be recovered.

Robert Allen Stanford has been charged with running one of the largest Ponzi schemes in history and, like any other millionaire, that means he's looking to spend a ton of money on his defense.

Since Stanford's assets have been frozen, he has to get court approval for his expenses, and he's asking for an allowance of $10 million for his legal fees. But the Feds think that amount is excessive and are concerned that that money should go to his victims.

So for now it's in limbo, but Mr. Stanford is already paying the price. The New York Post reports that "Just last week, Stanford's lawyer, Dick DeGuerin, sprinted for the exit because he wasn't getting paid. The court, though, is forcing DeGuerin to stay until someone else can be found. That someone might be Robert Luskin, of Patton Boggs, in Washington, D.C., but he, too, will not guarantee legal work unless he gets paid."

After 15 years of earnings growth, the average law firm saw its profits tumble between 8% and 12% last year, according (subscription required) to The Wall Street Journal.

That decline is sparking layoffs, salary freezes and lower bonuses at law firms large and small, and a few former titans have closed their doors altogether. The firms that have been squeezed the most have been mid-sized practices that have cost structures that make it difficult to persevere through a downturn -- but lack the cache of the elite large-sized firms.

Investors will likely recoup only pennies on the dollar for their losses in this global meltdown, but it will be a godsend for lawyers.

A lot of readers will probably take comfort in this bit of news. According to The Wall Street Journal (subscription required):

The legal sector, after more than tripling in inflation-adjusted growth between 1970 and 1987, has grown at an average annual inflation-adjusted rate of 1.2% since 1988, or less than half as fast as the broader economy, according to Commerce Department data.

Combine that with the substantial increase in the number of law school graduates, and legislative crackdowns on personal injury suits and soon, hopefully, securities class-action suits, and you have a tough job market for freshly-minted lawyers.

For all but top-tier graduates of elite law schools, it's been tough. According to The Journal, some graduates are taking jobs for as little as $20 an hour with no benefits -- Try paying off student loans with that!

While we are still a far way from following Shakespeare's advice to "First, kill all the lawyers," the market may be correcting the fact that we are producing more lawyers than we need. Part of the reason for the over-supply is the widely-held belief that lawyers make a lot of money, leading to a "law school by default" choice on the part of many students. But this created too many lawyers and now, it may not be as true as it once was.

If the goal of advertising is to draw attention to your company and the services it offers, FGA Law Firm accomplished that in spades. This "Life's short. Get a divorce." billboard was removed from its downtown Chicago location after one week, ironically because no permit had been obtained for the over-sized sign. The decision was not content-related, according to the city alderman. Corri Fetman and Kelly Garland, the attorneys responsible for the ad aren't happy: "They ripped our billboard down without due process. We own that art. I feel violated," said Fetman, although he did add that the sign had served its purpose, bringing in many new clients (I'm sure it also drew its share of angry calls).

This raises an interesting question about the purpose of marketing and advertising: Is it really just about drawing attention? If that's the case, are we just feeding the monster by criticizing products like the Cocaine energy drink, or Spyke alcoholic beverages? What about Camel cigarettes?

I don't know that I have an answer; in some ways not all publicity is good publicity. In the case of the FGA Law Firm, some divorcees may see the ad as cynical and opt for a firm that takes a more sensitive approach to the business of divorce. At least, I'd like to think that kind of advertising would turn off a lot of potential clients.

In the meantime, this Chicago law firm is getting exposure in nationwide media outlets including the USA Today. Will it pay off financially too?

On November 23, 1985 -- during Pee-Wee Herman's golden era -- actor Paul Reubens hosted NBC's Saturday Night Live, and participated in a skit where his beloved Dinosaur Town Theme Park, threatened by foreclosure, needed a fast $1 million to stay afloat. Pee-Wee's solution: Find a mouse in a Coke bottle. With help from his pals, he dumps bottle after bottle of Coke into a basin until they find that elusive mouse. And when they find him -- yep -- The Coca-Cola Company (NYSE:KO)'s men in black burst in with a briefcase full of money. Dang, those 80s.

For some, the joke has not aged well. Especially considering that in this day and age, in this fair country, Montana resident Bob Craft can not only change his name to Jack Ass, but also sue Viacom Inc. (NYSE:VIA)'s MTV franchise Jackass for "defaming his good character."

Mr. Ass, who changed his name to "raise awareness about the dangers of drunken driving" also sued for copyright infringement on a certain "Andi Ass," a cartoon created for his campaign. AOL Money & Finance has compiled a nice directory of this and other insane lawsuits, which we can all laugh at for a little while; that is, until we realize that one way or another we're paying for them.

According to Citizens Against Law Abuse, each of us, every year without realizing it, pays $1,200 to cover lawsuit abuse. "No matter who you are or what you do, lawsuit abuse affects your life in numerous ways.... Paying more for prescription drugs, doctors' visits, groceries or household items in general? Some of those higher costs can be traced directly to lawsuits or their threat."

Of course, litigation attorneys and citizens' rights organizations claim that lawsuits protect consumers and create a safer environment. Which is true in a sense. However, according to CALA, "less than half of the liability dollar ever goes to anyone injured -- the rest goes to lawyer fees and court costs."

What's a concerned citizen to do? SickofLawsuits.org says to contact your legislator, and provides a link to make your voice heard. But, if you don't want to rock the boat, here are some funny lawyer jokes.

B. Brandon Barker is the author of the novel Operation EMU.