Posted on May 13th, 2009 in Big Insurance | No Comments »
If the AIG bailout and the obscene excesses of their top executives makes your blood boil, you are certainly not alone. In the minds of the decision makers at AIG, there should be no limit to the amount of compensation that one may receive for guiding a corporate behemoth into financial ruin, but there sure as hell ought to be a limit on the amount of punitive damages a victim of medical malpractice can receive.
AIG has led the big insurance industry lobby that has been pushing for “tort reform” since the 1980s, financing the notion that “greedy lawyers” who file “frivolous malpractice lawsuits” are driving up the cost of healthcare for all Americans. This is pure hogwash.
“The evidence available to date does not make a strong case that restricting malpractice liability would have a significant effect , either positive or negative, on economic efficiency.” — Congressional Budget Office (Source: Non-Partisan Annenberg Political Fact Check)
The man who was calling the shots at AIG before the collapse was their CEO, Mr. Martin J. Sullivan. His resignation became effective on July 1st, 2008. Gosh, you know, we hate to see anybody out of a job, but we sure hope that Mr. Sullivan was able to land on his feet. I suppose the $47 million severance package that he received, (financed by you and me) might help him to weather the storm until he can find something else. I guess compensatory limits only apply to CEOs, not paraplegics.
AIG was gambling with risky securities while paying themselves countless millions of dollars as their lobbyists, and subsequently, our elected officials, were telling us that our health care costs were being negatively impacted by “the lawyers” who were consistently filing “frivolous” lawsuits. In reality, it was trite to think that insurance claims of any kind were relevant at all. The whole “tort reform movement” is nothing less than a disingenuous marketing blitz. The truth is that this phony “tort reform” campaign has never been aimed at the “greedy lawyers,” like the ads try to tell you. It is sad to say it, but big insurance companies like AIG, and the politicians that their lobbyists influence, have been trying their level best to protect their own interests at the expense of the injured parties who are the victims of medical malpractice.
“This liability system, I’m telling you, is out of control. Because the system is so unpredictable, there is a constant risk of being hit by a massive jury award. It’s costly for the doctors, it’s costly for small businesses, it’s costly for hospitals, it is really costly for patients.” — George W. Bush
The next time you hear a politician say something like this, ask yourself, if you lose multiple limbs due to medical malpractice, would you feel as though $250,000 would cover the punitive damages? That is what “tort reform” is all about. When you think tort reform…think AIG.
If you have been a victim of medical malpractice and need an Atlanta Personal Injury Lawyer, you need an experienced attorney who is passionate about defending your right to reasonable compensatory and punitive damages. Call The People’s Lawyer, Bruce Hagen, at (404) 522-7553 or simply fill out the contact form on the website and you can be certain that your medical malpractice case will be aggressively pursued and satisfactorily resolved.