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Common Sense Doesn't Please Supreme Court

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Anonymous

Guest
I'd love to have seen the look on the Chief Justices face...Apparently he didn't see it the same way- as it wouldn't protect the neocons Big business... Probably the last time this attorney gets to practice in front of this court as he talks common sense :roll: :(

We might not be having all these food/beef recalls and poisonings of kids if some of the other Corporate world would follow this attorneys advice...But in this new world order of the corporates- safety/product quality takes second place to profiteering......



Chief Justice Roberts defends Exxon.Yesterday, the Supreme Court heard oral arguments on how much money ExxonMobil should be forced to pay as damages for its Exxon Valdez oil spill 19 years ago. The Washington Post’s Dana Milbank notes that Chief Justice John Roberts appeared “bothered” that Exxon might have to pay for its destruction:

What bothered the chief justice was that Exxon was being ordered to pay $2.5 billion — roughly three weeks’ worth of profits — for destroying a long swath of the Alaska coastline in the largest oil spill in American history.

“So what can a corporation do to protect itself against punitive-damages awards such as this?” Roberts asked in court.

The lawyer arguing for the Alaska fishermen affected by the spill, Jeffrey Fisher, had an idea. “Well,” he said, “it can hire fit and competent people.”

The rare sound of laughter rippled through the august chamber. The chief justice did not look amused.
 

Mike

Well-known member
Punitive damages are a biatch to calculate in any court.

Bad part about this one is, if and when punitive damages are awarded, the ones that lose will be people buying gas. Exxon will just pass the costs on down to the consumer.

No doubt we've already payed for the $3.4 Billion Exxon spent on cleanup too.

I say punitive damges are mostly a waste of time.

Put the ones in jail that allowed Hazelwood to pilot the ship and be done with it. You can bet it won't happen again.
 
A

Anonymous

Guest
Mike said:
I say punitive damges are mostly a waste of time.

Put the ones in jail that allowed Hazelwood to pilot the ship and be done with it. You can bet it won't happen again.

I agree- but torts and punitive damages as penalties are the excuse used by the current Republicans, Administrative neocons, and corporate world for why we need no laws, regulation, or government oversight over the corporate world- but then argue against them when one of their elitist corporate buddies gets caught and hit with a big judgement as punishment... :roll: :???:

But with this current bunch in D.C- anything is possible...The same ones arguing against big government and government regulation and oversight, are now arguing for government to step in and bail their puckered hineys out with taxpayer funded steps- and set regulations to help them out- even going so far as suggesting a whole new government agency.......

Problem is its like closing the barn door after the cows got out..... :( :mad:

Moderation is something both parties have forgot....... :( :mad:

Breaking News from MoneyNews.com

Finger-Pointing Begins as Borrowers Get Swamped

Calls for the government to take "bold action” to resolve the mortgage crisis are mounting, as the percentage of homeowners whose properties are turning effectively worthless is increasing dramatically.

"A surprising number of homeowners are falling into negative equity positions,” wrote Mark Zandi, chief economist of Moody’s Economy.com, in a research note this week.

"The U.S. economy is likely in recession, and problems are spreading from the housing and mortgage markets to the global financial system,” Zandi wrote.

Moody’s estimates that 10.3 percent of all American homeowners — nearly 8.8 million people — are underwater on their property, that is, they owe more than the home is worth.

And the big wave of mortgage resets, which will dramatically increase monthly payments for many Americans, has barely begun.

It is time for the U.S. government to consider "bolder action on mortgages,” Zandi wrote.

This could include federal mortgage guarantees for troubled borrowers, or using government funds to refinance billions of dollars in mortgages close to default.

Other economists agree with the idea that something must be done, and soon, to stop the economic hemorrhaging.

Bank of America, for example, is proposing that a new federal government agency be created to buy delinquent mortgages and to replace the high adjustable interest rates with low, fixed interest rates.

Exactly the strategy, by the way, that the government has proposed private lenders to under take, to little effect so far.

But others note that tightening up lending standards may be a more effective, and faster acting, option.

"This is no time for half measures,” Kurt Eggert, a law professor at Chapman University, and former member of the Federal Reserve Board’s Consumer Advisory Council, tells MoneyNews.com.

"By tightening lending standards, the Fed would help borrowers, investors, and even lenders. That can re-establish faith in the subprime market,” says Eggert.
 

Mike

Well-known member
It's plain to see you know nothing about the Valdez oil spill incident and make a feeble attempt to change the subject at hand. :roll:
 
A

Anonymous

Guest
Mike said:
It's plain to see you know nothing about the Valdez oil spill incident and make a feeble attempt to change the subject at hand. :roll:

Looks to me like they are all part of the same subject...Irresponsibility by Corporate management that now wants government to get their tits out of the wringer......
 

Mike

Well-known member
Fresh Off The Press..TODAY!!!!

Bush sees no bailout for lenders and speculators
As banks lobby for what has been described as an "epic rescue plan" for the mortgage industry, President Bush today hardened his oppostion to bailout plans he said would help "lenders and speculators." Bush said such plans would be unfair to millions of homeowners who pay their mortgages on time.

USA Today: "Echoing Treasury Secretary Henry Paulson, Bush says a Senate proposal to deal with the foreclosure crisis would 'do more to bail out lenders and speculators than to help American families keep their homes.' "
 

jodywy

Well-known member
Thought Former Democratic Presidential Canadate Edwards was the Tort Lawyer :shock: the one that sues business out o bussiness
 
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