Who Does Our Legal System Serve?
Posted in Ayn Rand, Courts and Law on March 24th, 2007 by Chip GibbonsFrom the New York Times [reg. req.]:
LEXINGTON, Ky., March 22 — W. L. Carter knew there was something fishy going on when he went to his lawyers’ office a few years ago to pick up his settlement check for the heart damage he had sustained from taking the diet drug combination fen-phen.
The check was, for starters, much smaller than he had expected. And his own lawyers threatened to retaliate against him if he ever told anyone, including his family, how much he had been paid. “You will be fined $100,000, you will go to jail and you will be sued,” Mr. Carter recalled them saying.
Mr. Carter was right to have been suspicious. The lawyers defrauded their clients, a state judge has ruled in a civil case, when they settled fen-phen lawsuits on behalf of 440 of them for $200 million but kept the bulk of the money for themselves. Legal experts said the fraud might be one of the biggest and most brazen in legal history.
As Ayn Rand asked, “Who will protect us from our protectors?”
Over the years I’ve been involved in a number of class action lawsuits pertaining to the stock market. There are always a lot of forms to fill out. Time goes by and in the end I’ve never received more than a few dollars from any of it. Now, when I receive those forms in the mail from law firms, I don’t even waste my time filling them out.