Jeffrey M. Liggio
Corporations and our “Justice Crisis”
The media and politicians tell us about a financial crisis, a terrorism crisis, a debt crisis, a crisis of confidence, blah, blah, blah.I spent some time today in one of the foreclosure divisions in the Palm Beach County courthouse. We have recently filed several class actions dealing with the massive overcharging of force placed insurance policies. Here’s a link to an excellent news story about force placed insurance: http://money.msn.com/money-video?vid=3d0229ae-bd3a-d97b-573d-b568aa0b6ac1It’s sad, an army of lawyers representing the banks and mortgage companies, and folks losing their homes, and the paper trail is no where. The overcharging and overreaching is status quo.I think what we really have is a “Justice Crisis”, where underfunded, and understaffed courts are trying to cope with a mass of corporate wrongdoing, with virtually no penalty. After all, other than Madoff and a very few individuals, the Government doesn’t seem interested in prosecuting these corporate criminals. I imagine that it is poor politics to prosecute the corporate donors…This brings to mind a quote from a 19th Century U.S. Senator, talking about corporations 150 years ago:“Corporations are formed to do what individuals would be ashamed to do”More to follow next week.