Friday :: Mar 28, 2008

Clinton and "Tort Reform"


by eriposte

In response to an earlier post, a commenter made this cryptic comment:

...the anti-securities lawsuit sop to tort reform had me down in the dumps about her

I'm not quite sure what this commenter was referring to, but the most recent incident where Sen. Clinton, as usual, got trashed first -- without actual fact-checking - is this one that CT Blue wrote about (emphasis mine):

The “oh, shit” link (the post is from Suburban Guerilla) is to an article about Hillary Clinton, and the clear implication is that Hillary has proposed barring homeowners from suing predatory lenders. If that’s true it is not borne out by the linked article [Eriposte note: here]:

The New York senator proposed greater protections for lenders from possible lawsuits by investors, a variation of so-called tort reform. For years, GOP leaders have called for restrictions on what they consider unwarranted lawsuits against businesses. Democrats have often resisted them on grounds they limit injured parties’ legitimate rights to redress.

“Many mortgage companies are reluctant to help families restructure their mortgages because they’re afraid of being sued by the investment banks, the private equity firms and others who actually own the mortgage papers,” Clinton said in what she billed as a major address on the economy at the University of Pennsylvania.

There is nothing in the article to support the contention that Clinton is trying to bar the homeowners from suing. Clinton is talking about people who invested in the sliced and diced mortgage backed securities. I.e., she is turning the Republican guns back at them, since it is the fat-cats (well, slightly less fat now) who would be thrown out of court.

We Democrats have to stop beating up on our own.

To his credit, Chris Baldwin at Suburban Guerilla was honest enough to apologize for misstating Sen. Clinton's position. Let me remind readers that Sen. Clinton also voted against the Orwellian Class Action Fairness Act of 2005 that Sen. Obama voted in favor of.

P.S. President Bill Clinton vetoed the Private Securities Litigation Reform Act (1995) and Common Sense Product Liability Reform Act (1996).

eriposte :: 3:25 PM :: Comments (12) :: Digg It!