You could probably make that statement about a lot of fields these days. Even before these tough times, it wasn't uncommon for students to accumulate huge debts and have unrealistic expectations about what their degree would do for them.
Law is perhaps worse than others because it can be very expensive, also lots of law students seem to think they will graduate and land in a top firm making big bucks, and there are only so many of those positions to go around.
My suggestion would be to take the LSATs and see where your score can get you and then look for a school where that score can get you some scholarship money. A half-ride scholarship at a 15k/year school is obviously a huge difference form no scholarship at a 40k/year school. I would also pay very close attention to how well schools do at career placement. Take a look at their employment statistics for grads and just ask around.
The Forbes article seemed to be focused on the attorney situation, but a law degree does not necessarily mean being an attorney. It can be a good field for many other occupations (e.g. business,writing, journalism).