Wednesday, November 25, 2009

Lawyers to get 59 million.

In America laws have served us well and lawyer contingency fee structure has provided opportunity to provide justice to many people.It has become a lopsided system .

In a major club fire in Rhode Island 100 people died and it seems the final settlement will be 176 million dollars with attorneys receiving 59 million and victims receiving about 120 million the balance.Attorneys spent 1.2 million dollars from the pocket.They for sure were able to bring value to clients which on superficial look at facts did not seem to exist.It may show the excellence in attorneys capacity to find value and responsibility and the same time it exposes the in equity of the system .In America it is still a challenge to provide a timely justice and keep the costs of the same reasonable to the system.Best protection for all is the clearly defined laws and law abiding citizenry.Common sense law is not always common.

Hidden value established and bringing values and responsibilities not generally known is becoming where most insurance companies will insure only for known risks by known factors.A system for universal coverage for health care will take the issues of health care out of the picture freeing the system.Catastrophic coverage for all should be provided from a national fund and streamlining the federal process of it.This will also make the funding of it more popular .Formula can be as simple as 1/8 a percent of all income for the nation.will provide several billion dollars a year.Their is a need to non politicise it at the same time and incorporate it into the existing social security system.

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