Ed. Note: Welcome to our daily feature Trivia Question of the Day!
Every lawyer knows what a “white-shoe firm” is — an old-line, prestigious, tradition-bound, Wall Street firm. But the label is literal: it comes from an actual piece of footwear. What shoe gave the white-shoe firm its name?
Hint: It was a warm-weather staple on Ivy League campuses in the 1930s and ’40s. Wearing it marked you as a member of a particular social set: the same set that ran the old-line Wall Street firms, and, for decades, kept nearly everyone else out.
See the answer on the next page.
The post Why We Call The Old-Line Firms ‘White Shoe’ appeared first on Above the Law.