On Sat, Jul 14, 2001 at 09:33:49AM +1000, Keith Antoine wrote:
>
> Caldera joins Red Hat, VA Linux (and UPS, and Ariba) among
> the ranks of those sued for alleged IPO irregularities. Press
> release from the firm handling the action within
>
I believe that the tort lawyers are now the biggest contributor to the
Democratic Party, whose recent bloodless take over of the US Senate was
reported in the American press as the result of the action of a single man of honor,
Mr. Jeffords from Vermont. Since the Democratic Party is the biggest and most powerful
entity in the USA, do not expect any relief in the foreseeable future.
After the asbestos victory (Companies are still being sued out of existence) and the
breast implant
victory (Billions in damages based on pure junk science), and the dishonest tobacco
settlement
between the companies and the states (Everyone benefited but smokers) there
is no reason to hope for a sensible outcome.
The greed of many lawyers is just beyond the comprehension of most people.
Permit me to relate a lawyer success story here in Maryland.
In my state of Maryland, a certain lawyer, Mr. Angelos has made hundreds of millions
of dollars from asbestos litigation, essentially destroying a steel company
that employed thousands of Marylanders for decades at high wages and
benefits. Mr. Angelos employs very few people, and has never let anyone in
his employ make partner in his law firm. Mr. Angelos also owns the Baltimore
Orioles. He got the state to build him a new stadium a few years ago. Before
he fired his successful manager, the team was a contender for world champs.
Now, thanks to his intervention in running the team, the orioles are not a
serious contender for anything.
Mr. Angelos, a very well connected man in this Democratically run state, was given
the lucrative job of representing Maryland in the
state attorneys generals lawsuit against big tobacco. For several months of
work, his share of Maryland's settlement is one billion dollars. (That is
BILLION, as in 1,000,000,000.) The state has "protested" it but a deal is a deal
and he will get his money. Why not, only the taxpayers are being cheated.
Mr. Angelos recently complained that he was being cheated by the state
because the state was giving a better deal to the Ravens (World champs) then
to the orioles. Yes, children, his contract with the state, which gave him a
free stadium, has a clause that the football people can't get a better free deal
than him. So, the state gave him an additional 10 millions dollars for
oriole stadium. Now, 10 million dollars is chump change for a man of his
means, but, when it comes to money, lawyers are really big on principal.
So, the career of Mr. Angelos is a story of litigation, big money, and corrupt
politics.
All of this stems from the profound ignorance of the American voter,
which it seems, will not be cured in my lifetime.
Joel
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