Nationwide slashes 43 firms from commercial lending panel

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  • This is just a typical example of a lawyer trying to justify their existence. How does it take 3 months to make a list of panel firms? A day to write a list of 17 names might be considered a little over the top. No wonder lawyers get away with charging £500 per hour to fill in forms, write schedules and change the words in PLC precedents.
    Or is 'comprehensive review' jargon for 3 months of being wined and dined by all these firms just for the fun of it? It shows that these financial institutions are still happy to flush money down the loo. I hope Vince Cable reads this article and does something about it.

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  • I didn't know Christiano Ronaldo was a communist!

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  • Not sure what Christiano is on about but, not sure how any organisation is supposed to manage a panel of 60 firms and give them all work in this climate, no matter how big it is. I think all the banks and building societies are looking to drive costs down and get a better service. Days of hourly rates are numbered (does anyone still charge hourly rates??), which in my view just hide inefficiency!!

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  • No Mayer Brown or K&L Gates?

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  • Hourly rates aren't disappearing for good. Not any time soon anyway. Pretty stupid comment at 4:35pm.

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  • Christiano (with an "h")
    I fail to see how a lawyer (singular) can fail to justify "their" (plural) existence - unless of course you are referring to an lawyer who has multiple personality disorder. I would submit it's better to have several personalities, than not even manage one.
    Christiano (with an "h") also believes that economic genius Vince Cable is the answer to the business world's prayers. Isn't this the same man who recently lamented capitalism? Riiiiiight.
    It's probably best to stick to football chat-rooms than discuss adult topics.

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  • "Christiano" proves the sage advice that one should "never rush into print"!

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  • RE Mayer Brown and K&L Gates - note LG and Taylor Wessing being on the panel and Iain Thomas ex MB now at LG and Richard Williamson ex K&L now at TW. A coincidence...

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  • 60 firms on a panel is utterly absurd. 17 is still excessive.

    I agree with some of the comments on here about people creating work to justify their existence, although this isn't something that is unique to the law, it's just that the salaries are higher than in most cases.

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