Money Still Makes the World Go Around

Money Still Makes the World Go Around

Moneycoins_1 The Seattle PI of October 24th had two articles about money. The first was an Associated Press report about the record earnings of the oil industry. It reported that five of the largest energy companies are expected to report combined 3rd quarter earnings of "…more then $30 billion dollars…" This industry has been allowed a free hand in price gouging of the American public. This country’s continued dependence on fossil fuel is the source of much of our nation’s problems, yet there is a failure to aggressively address the issue by Congress or this adminstration. Nor is there any genuine attempts to deal with enormous excessive profits of this industry.

In another article, the Associated press reported on the sentencing of Jeffery Skilling of Enron shame. It reported that Skillings remaining assets of $60 million would be disbursed and that the Justice Department had allowed Skilling to set aside $23 Million for his defense when he was indicted, but that he still owed his lawyers another "…$30 Million.." in fees.

It is signficant that there has been a drumbeat attack on contingent fees in tort cases by the tort reform fronts for big business and the insurance industry, without any complaint from clients. Yet, the same fronts are utterly silent about the hourly rates charged in the defense of tort claims or the hourly rates in litigation between corporate giants or the hourly fees charged the wealthy in defending criminal charges. The reason for his hypocrisy is obvious. If those who are not rich and powerful have to pay these same hourly rates in tort cases, ordinary people will be denied any real justice in tort cases. This is, of course, the reason for trying to eliminate reasonable contingent fees in tort cases by the special interest groups who hide behind deceptive names, but whose real goal is to deny access to justice except for the rich and powerful.

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