Once again America lead the way in plumbing the depths.

June 15, 2009

I’m sure that there are many good and decent Americans out there.
This gentleman is, however, not one of them. Mr. Richard W. Fields has come up with a new wheeze of an investment opportunity. He offers you the chance to invest in lawsuits.
That’s right, you can invest in the cost of a lawsuit and then benefit from the payout when the case is settled. Read more of his grabbit and run approach here.
I’m not sure where to start with how wrong this is.

Even Bilko would be ashamed of this scheme.

Even Bilko would be ashamed of this scheme.

I hate the litigious nature of the US of A. It encourages nothing good to happen. In fact, quite the contrary, I think that the vast majority of litigation is wrong and harms the very fabric of society. So many things are banned at schools now as the authorities are scared of parents suing them.
The lawyers, however, see nothing wrong with this. They state: “On the portfolio as a whole, our returns are well in excess of 20 percent per year.” He added, “We’re certainly beating the market.”
All the way through the article we read of how clever this is, and how it offers a service to companies who may otherwise not be able to indulge in litigation.
It’s only when we get to the end of the article that we start to see the other side of the moral dilemma. It’s only in the second from last paragraph that we read of the comflict of interests that could occur. They then ask: “The larger question, though, is whether the mere existence of outside investors makes possible lawsuits that might not be pursued otherwise.”
There’s also the question of undue influence. And the moral issue of encouraging some one to sue another.
I know we shouldn’t be surprised that this sort of thing happens. But it’s still depressing to think that these muppets are getting rich off the back of such a morally corrupt scheme.

One Response to “Once again America lead the way in plumbing the depths.”

  1. yes its a big money deal financing lawsuites i used these services and even though it cost a bit of money it was better than no being able to pay my bills.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: