False propaganda about jury awards
Shame on the U.S. Chamber of Commerce
Watch http://www.youtube.com/watch?v=h85j1vNxd8A
Instead of entering into a reasoned discussion about the effect of litigation on business, the Chamber choose to buy a full page ad in the Wall Street Journal falsely claiming that lawsuits force each family to pay $3,520 per year, (quoting junk economics in a report by Tillinghast, a insurance industry consulting firm). The report has phantom numbers in it to trump up its results such $218 billion for “administrative expenses”, $128 billion for “tort transfer costs”, $36 billion for “deadweight costs”, etc. The bias report has been roundly criticized by many scholars such as Fordham University’s professor Daniel Capra and even conservative jurist Richard Posner.
This begs the question, however. Lawsuits don’t create costs to the system. The acts of negligence or manufacturing of unreasonably dangerous products create the costs long before a law suit is contemplated. Our judicial system, filled by conservative jurists and jurors, protect the insurance industry without the unethical help of the Chamber. One only need glance at the Wall Street Journal to see how much of our premiums convert into insurance industry profit rather than payment for damages suffered by the innocent.
http://www.bailey-law.com/lawyer-attorney-1215835.html
