Saturday, April 24, 2004

The myth of tort reform

You know how the political right is always whining about how tort reform (read, "drastically low caps on lawsuit damages") will be in everyone's benefit, will lower insurance rates, will save everyone gobs of cash, etc, etc, yadda yadda yadda.

It's crap.

And you can see the evidence here. Absolutely priceless is State Insurance Commissioner Jose Montemayor (read, "insurance industry whore") who, in March 2003, seemed to promise that reforms "would translate to a 17 percent to 19 percent reduction in rates".

When they did no such thing, Montemayor back-pedaled by claiming that, well, that letter wasn't really a promise or anything.

Next up: Montemayor promises that Iraq really had WMDs. OK, well, not really WMDs, maybe just intentions to have WMD-related program activities. Or something like that.

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