Cadwalader, Wickersham & Taft, a leading law firm in the area of mortgage-backed securities, announced Thursday it was laying off 35 lawyers in the face of slumping credit markets.
New York-based Cadwalader is not the first law firm to have announced cutbacks in the face of the securitization slowdown, but it is arguably the most prominent. Cadwalader’s large practice advising on the issuance of mortgage-backed securities helped catapult the firm to the top of the legal profession’s profitability charts over the past few years.
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