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GEN: Trial Lawyers, IncFrom: art fougner, md (evsono@pipeline.com)Fri Sep 26 08:27:22 2003
>From Tues. Wall Street Journal - REVIEW & OUTLOOK advertisement Trial Lawyers , Inc. That's how the folks at the Manhattan Institute now refer to what may be America's only recession-proof industry: the plaintiffs' bar. We hope the moniker catches on. For decades trial attorneys have nurtured a public image as little Davids standing up with their slingshots to America's corporate Goliaths. But as a study to be released later this morning on Capitol Hill underscores -- "Trial Lawyers , Inc.: A Report on the Lawsuit Industry in America 2003" (http://www.triallawyersinc.com) -- these litigators have become an industry unto themselves. By now, most every American has his own tale about some silly lawsuit run amok, from the post-tobacco obesity suits targeting McDonald's to the $7.2 million settlement former "Tonight Show'' sidekick Ed McMahon won after suing over house mold he claimed had killed his dog. When the Manhattan Institute's researchers added it all up, the result was staggering: Not only have tort costs risen much faster than either inflation or GDP, the estimated $40 billion in revenues our tort warriors took in for 2001 was 50% more than Microsoft or Intel and double that of Coca-Cola. One good measure of their size is their political clout: In 2002 the trial lawyers' PAC ranked third in America -- and was the Democratic Party's most generous contributor. We're not saying that there's no role for trial attorneys in the American legal system, or that they don't occasionally secure justice for a wronged individual. But with the billions its firms rake in each year putting them squarely in the category of Big Business, shouldn't their self-serving claims be treated with the same skepticism routinely directed at, say, Halliburton or Philip Morris? Updated September 23, 2003 http://online.wsj.com/article/0,,SB106427905041783200-search,00.html?collection=wsjie%2F30day&vql_string=trial+lawyers%3Cin%3E%28article%2Dbody%29 art
-- art fougner, md ich bin ein New Yorker
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