The consumers of the world may lose interest in high-end furniture and casinos during a recession, driving industry profits down. The upscale home goods maker Bombay already filed for bankruptcy and casino magnet Harrah’s Entertainment may follow in its footsteps.

But it is hard to imagine a scenario where lawyers are no longer valued in equal terms. If there ever was a recession-proof industry it is law. The demand for lawyers is not tied to any economic factors. People do not stop getting divorced or suing one another because the economy is bad. Lawyers are also needed, and during a recession even more so.

Though I know of no data to provide this [does anyone have to offer?], I could case the economic troubles increase divorce rates as couples fight about finances and marriages grow strained due to layoffs and/or a partner taking two part-time jobs to pay the bills.

That may or may not be the case. But what is provable is that businesses request the services of lawyers more during bad times. This is due, obviously, to bankruptcies. And for America’s law firms this recession is a bankruptcy God send.

The numbers of America firms to file for bankruptcy since the recession began is second to only the Great Depression in American history. Although absolute numbers are less than the Depression, in one case the magnitude is worse. Five of the eight biggest firms to declare bankruptcy in America history had done so during this economic recession: investment bank Lehman Brothers, mortgage brokers Washington Mutual and Thornburg Mortgage, and auto giants General Motors (GM) and Chrysler. The declared bankruptcy of General Motors is the largest bankruptcy in the history of the world.

Every bankruptcy case has to go before a judge to a certain as to how assets will be liquidated to reimburse as much as possible creditors. The bigger the firm, the larger the legal case.

American lawyers have benefited handsomely. The law firm that handles that Chrysler bankruptcy, Jones Day, sent a bill of $12 million just for one month of services rendered. Nice to know someone is doing well out there.