Insane

The stakes and price of going to law school.

University of Colorado law professor Paul Campos has studied the legal job market and found that it's been shrinking because in part because of outsourcing and computer automation. He estimates that of the 45,000 law graduates each year, almost 45 percent can't get jobs that require a law degree.

"Many of the people who are going to law school right now are never going to be lawyers," Campos said.

Campos says that almost all law schools report employment rates of 80 percent or more by including non-legal, part-time and temporary jobs. On average, the real rate is about half that.

"Used car salesmen can't get away with the kind of claims that law schools get away with all of the time," Campos said.

Seriously...if law school was considered a consumer good, this would have to considered fraud, wouldn't it? I feel like pyramid schemes have a better chance of success (with lower cost) than going to a law school below the top 25.