October 31, 2008
In the same line, I am sure everyone has heard that a large portion of the $700B bail out package passed by the Congress to give more liquidity to the financial institutions are ear marked to go for executive bonuses and paying out dividend to shareholders… And they blame trial lawyers for all the ill we are facing.
In the case of so-called lawsuit abuse, what the ILR does not mention is that America’s economic crisis is happening right now as a result of the deregulation of the financial industry, or in other words, the accountability-free zone the Bush administration has given to America’s largest businesses to screw around in. The corruption and greed that now runs rampant in these businesses, and which both parties recognize as the ultimate root of the financial crisis, has grown to its cancerous proportions not because of lawsuit abuse, but because of tort reform, which has already given our biggest businesses carte blanche to risk—and lose—the jobs, retirement plans, and life savings of everyday Americans without the threat of legal consequences.
Let’s all recognize the ILR’s “Broken System” (BS) for what it is.
October 31, 2008
Top scientists and career employees at the Food and Drug Administration opposed agency regulations that weaken consumers’ ability to sue drug makers, congressional investigators said Wednesday.
At issue is language in a drug labeling rule from 2006 that effectively limits when people can sue in state court over injury claims involving medications. The FDA contends federal regulations prevail when there is a conflict with state law. This concept is called pre-emption.
Internal agency documents showed that career officials opposed this approach, according to a report released by Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee. In the past, the agency had viewed private suits as an additional layer of protection against unsafe drugs, the report said.
“Much of the argument for why we are proposing to invoke pre-emption seems to be based on a false assumption that the FDA approved labeling is fully accurate and up-to-date in a real time basis,” the report quoted Dr. John Jenkins, who oversees FDA’s new drug reviews, as saying. “We know that such an assumption is false.”
Patients injured by drugs have won suits against drug manufacturers for failing to warn against certain dangers.
October 15, 2008