Let me be the first to say:

Congratulations!!!

It's been a long time coming. Maybe I'll stalk the aisles of Barnes & Noble here in New York and do some of my own Lawyer Boy publicity.

Let me also be the first to express my regret. In college, you asked me out after Acting 101 and I said no. And even though we became fast friends, today I'd trade it all in for a chance to switch that monosyllable-word reply to a "yes."

Son of a.

Congrats again.

You should tape every morning show, daytime talk show, and late night show that airs today.

Then, you should do that Forrest Gump digital insertion thing, and make it look like you were in all of them. Your kids and grandkids will never know. I can see the dialog now:

Matt Lauer: "So, Dr. Sorenson, you're saying that polar bears are sick of global warming and are starting a cult that uses human sacrifices to cool the earth on the assumption that since people are 98.6 degrees, each person warms the earth with their body heat?"

Inserted Rick Lax: "Yes, the people at St. Martins have been great. My editors really helped me keep things tight and cohesive. I think any law student will enjoy the tips, and any lawyer will enjoy reading the book and thinking back on their own hijinx."

Matt Lauer: "So, Doctor, you're saying that the international child pornography rings are covers for the polar bear cult? That they use child porn to lure people into the 'To Catch a Predator' houses, but instead of being arrested, they are polarkilled?"

Inserted Rick Lax: "It's been quite an experience writing this book. I've had to walk a fine line between telling it like it is, and protecting the innocent.... and the not so innocent."

Matt Lauer: "Strange and troubling news indeed Doctor, thank you for alerting us to the impending danger."

Inserted Rick Lax: "Thanks for having me Matt."

CONGRATULATIONS  R I C K Y

It's now a few minutes before 1:00 Chicago time...how were the Foie gras medallions and with the mayor?
Sounds delicious and confusing.

Sounds like the Today show's gotten a whole more controversial...

I'm not sure, but I think a commercial paper is a money-market security issued by large banks and corporations. It is generally not used to finance long-term investments but rather to purchase inventory or to manage working capital. It is commonly bought by money funds (the issuing amounts are often too high for individual investors), and is generally regarded as a very safe investment. As a relatively low-risk investment, commercial paper returns are not large. There are four basic kinds of commercial paper: promissory notes, drafts, checks, and certificates of deposit.

Because commercial paper maturities do not exceed 270 days and proceeds typically are used only for current transactions, the notes are exempt from registration as securities with the United States Securities and Exchange Commission.

Commercial paper is defined in Canada as having a maturity of not more than one year and is exempt from dealer registration and prospectus requirements.[1]

Commercial paper essentially can be compared as an alternative to lines of credit with a bank. Once a business becomes large enough, and maintains a high enough credit rating, then using commercial paper is always cheaper than using a bank line of credit. Nevertheless, many companies still maintain bank lines of credit to act as a "backup" to the commercial paper. In this situation, banks often charge fees for the amount of the line of the credit that does not have a balance. While these fees may seem like pure profit for banks, if the company ever actually needs to use the line of credit it would likely be in serious trouble and have difficulty repaying its liabilities.

Currently, more than 1,700 companies in the United States issue commercial paper. Financial companies comprise the largest group of commercial paper issuers, accounting for nearly 75 percent of the commercial paper outstanding at mid-year 1990. Financial-company paper is issued by firms in commercial, savings and mortgage banking; sales, personal and mortgage financing; factoring; finance leasing and other business lending; insurance underwriting; and other investment activities. The remaining commercial paper outstanding at mid-year 1990 -- over 25 percent -- was issued by nonfinancial firms such as manufacturers, public utilities, industrial concerns and service industries.

Commercial paper was invented by Percy "Max" Hall, Vice President of Manufacturers Hanover Trust Bank, in the 1920's.

 Counselor Ryan, did you finally get google???

Holy crap they stole my definition and put it on Wikipedia!

Where can I find additional history on Percy "Max" Hall and his Commercial Paper invention?

Google search so far has produced nil.

"Max" had a great idea when he came up with this nifty debt instrument. Great creativity for a Banker!

Way to go Max!

Thanks,

Dan

Hey - as much as i enjoy someone linking to my blog... i'll note that my reference was even MORE obtuse than you suggest.

I took Secured.

I was talking about TRIBAL secured transactions.

The difference here is that Tribal land is owned in trust by the federal government - because of this it CANT be be used in a secured transaction (because it is "owned" by the federal gov. and NOT the tribe and therefore can't be used as collateral - and therefore there are no 'normal' secured transactions availiable on tribal land) ... that isn't to say that they don't exist. BUT... that is a comment for some obscure footnote in some obscure law review on some obscure indian law note.

So obviously they didn't test on that :)

If you took it in july and are still waiting -- no worries. Everyone i took it with who ran blogs - they all passed on the first time. I think there is a connection .. and therefore you will pass. Just relax these last few weeks...

Shmoo

Secured transaction may include many things other than bank transfer, According to me a transaction where the third party cannot enter may be defined as a secured transaction.

Nice explanation of commercial paper - it is a good way for businesses to borrow money for short-term needs.

Good Point. I agree that the McCain of 2000 would have said something completly different than the McCain of 2008.

LawyerToe

More, as long as you are willing to live with the consequences of openly declaring your political beliefs. I post about politics on my blog from time to time, but since I'm only a moderate-liberal (c.f. 85% of all college and law students ever) it isn't such a huge "stand".

That being said, now that you're out of law school, gotta find something else to talk about right?

Hmmm...not sure about those consequences. But whenever I talk politics, I always censor myself a bit. Yeah, I shouldn't be blogging about politics...

Yes, a terrorist attack would clearly benefit McCain, and it was silly for him to react the way he did. He has military experience, unlike Obama, and is a bona fide American hero.

While I think McCain's likely harder stance on terrorism is something people should consider, I don't think that this is the reason that "terrorism is a Republican issue". Rather, it seems that conservatives are both:

A)likely to vote Republican because of their small government, take-back-the-south, NRA loving ways

and

B)unnecessarily afraid of terrorist attacks, just as they are afraid of anybody foreign, anybody that looks foreign, spicy food and contraceptives.

Hopefully, no terrorist attack will happen in the next year and the global increase in respect that America will receive by electing somebody that doesn't look like Mr. Rogers will help keep them to a minimum.
Unfortunately, terrorist organizations thrive on opposition and have been known to plan attacks in coordination with elections to scare people into voting for a polarizing figure.
We'll see what happens...

Yep, you should definitely do more political posts. First of all, politics is just life and it's always fun and interesting to hear other people's views. Secondly, you do need something else to talk about with law school done and over with.

Just be prepared for the occasional non-friendly who might drop by courtesy of Google. But do not be afraid ... blog on!

okay, counselor ryan, point taken, but terrorist IS a republican issue in that most people who hold terrorism as their #1 issue tend to vote Republican. thats all that means.

I like the blog, it was interesting and I hadn't heard about it. I think it's non-controversial so it won't ruffle anyone's feathers. By the way, the "win your book contest" drum rolls are starting to give me a headache... who won?

Ah, yes, the winners. It was a close competition. Really, a lot of the responses were great. It was not an easy choice. I picked Adam and MMC and, kinda, Dan. Dan was my #1 pick, but he had won the quick reply contest. And then there was a 2nd place tie between MMC and Adam. Then there were a few honorable mentions. Yeah, like I said, from reading the replies, it became clear that many RL.com readers are funnier than me.

Never before have I read something on the internet and felt compelled to post a comment. you fuckin suck. seriously.

 Please watch the meanness and the language on this blog.  My parents read this. 

I feel sorry for them.

I ususally post under "Anonymous." Obviously that wasn't me. How rude!

Prior to law school I always finished every exam well before "time".

Now? I've never had a test feel "completed". There's always one more point you could make, or a multiple choice to review one more time. It's nuts.

There are two scenarios for me with regard to exam time limits.

One, if I know what I'm talking about then the time pases quickly. This means I either feel like the three hours passed in seconds or I wish I had MORE time.

Two, if I don't know what I'm talking about or if I am stumped by a question the time drags by at a ridiculously slow pace. This is very frustrating.

Unrelated, we were able to take exams on our computers for the first time this past semester via "Electronic BlueBook" software. This speeds things along and allows for better reorganization. With less emphasis on space management or attempting to write legibly, time was less of an issue. Win-win for everyone.

 For sure.  For sure.

And if you think the feeling is bad on law school tests, try writing a book!

 Oh, computer tests are FOR SURE better.  The one thing is...they kinda turn law school testing into typing competitions....whoever can type more gets the best grade.....

And I have a feeling you're not stumped too often, Counselor Chris...

You are clearly well prepared.

Not true. I'm an awesome typist, and in fact I did win a typing competition back in high school. 90 wpm, sorry haters! Yet my law school grades suck.