Wednesday, October 17, 2007

International Tort Crisis ????-2

"Norman Lamont's Oct. 4 editorial-page commentary 'International Tort Crisis' would have us believe that economic relationships between the U.S. and Britain will collapse if the U.S. Supreme Court rules in favor of investors' rights in the pending case Stoneridge v. Scientific-Atlanta. In doing so, he joins the fear-mongering of others who assert, among other things, that an investor-friendly decision in that case will destroy our capital markets. ... This is utter nonsense. ... Moreover, [Lamont's aguments] fail to accurately describe what is at issue in the case", James Coffman's letter in the WSJ, 17 October.

The misrepresentations in Stoneridge have been astounding. To see what is really at stake in this case follow the story about the $100 billion Citigroup bailout.

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