While you were out...
Everyone is up in arms over the Social Security fight...and meanwhile, the Administration has jammed this terrible piece of legislation through Congress.
So, while no one's looking, giant corporations (tobacco, oil, asbestos...so many giant, faceless companies) get massive protection from wrongdoing, and the individual once again gets screwed. Federal courts are less likely to hear the class action lawsuits, forcing many corporate fraud cases to be heard on an individual basis. Many of these cases against big companies are won because of the large amount of people affected...by limiting class action lawsuits, corporations skirt the system as THEIR high-priced, well-paid, professional lawyers can potentially prove that individual cases of fraud and abuse are isolated incidents, when the abuse could be rampant across the country. But no jury will ever hear the evidence of abuse from these other cases now...because, you kow, all these high profile court cases were just...frivolous.
So. The response to Enron, Tyco, Worldcom, etc.? Protection from the law.
As an added slap in the face, the bill also limits the lawyers' fees, eradicating any incentive for lawyers to take these cases. See - trial lawyers, they make their money by winning cases like these against sleazy corporations. Corporate lawyers, on the other hand, are on retainer. They work for these companies. They're on salary. They make huge amounts of dollars, whether or not they win their cases. But now, these new limits will make it like a public defender - working pro bono - going up against OJ Simpson's lawyers. See the problem? The deck continues to get stacked against all of us "regular" folk...
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