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Large companies will never have your interest in mind so do not give them power in tort reform!


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10/12/2009
James E. Ballidis
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The debate about health care and tort reform continues to rage on. Large companies and corporations want tort reform as a justification for reducing insurance and premium rates. In exchange for that tort reform, they promise effective administrative procedures to resolve complaints. However, as I pointed out in recent articles in workers compensation, health insurance and auto insurance they do not act in your best interest. The only way to make large corporations listen is by subjecting them to liability as you would any person violating the law or the rights of others.

As further evidence of the refusal of large corporations to adopt reasonable regulations, banks and the US Chamber of Commerce are trying to block consumer financial protection agency regulations arising from the mortgage debacle. As noted by President Obama in the White House gathering of lawmakers on October 9, 2009, the president took sharp shots at lobby interests representing banks, business groups and the Chamber of Commerce.

“They are doing what they always do, descending on Congress, using every bit of influence they have to maintain the status quo to maximize their profits at the expense of American consumers, despite the fact that recently a whole bunch of those same American consumers bailed them out as a consequence of bad decisions that they made."

Does it surprise you that big banks, the US Chamber of Commerce and other entities want little or no regulation of their behavior so that they may continue to operate at high levels of profit, while destroying the lives of so many consumers? This same lesson is learned over and over again in the debate for tort reform and business management. The simple truth is that businesses are operated for profitability, and will do only the bare minimum socially required of them even if it means they deny health coverage to those in need, sell Fraudulent marketing and mortgage schemes, deny workers much needed benefits and all the while maintaining the illusion that they are benefiting the United States, consumers and the economy.

To those that support for reform, I challenge this thought process be adopted. Allow consumers that are wronged to sue companies freely and without restriction. Encourage companies to tort reform themselves by avoiding such lawsuits through customer service, quality products and maintaining the highest level of integrity, as we would expect of any citizen of the United States.

Category: Car Accidents


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