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Laywers get 20% of the restitution costs, on top of the restitution costs. If the courts deem that the resulting costs to the defendant are too low, additional
by RangerScience 7y ago
Laywers get 20% of the restitution costs, on top of the restitution costs.
If the courts deem that the resulting costs to the defendant are too low, additional amounts may be levied and given to relevant charities, or the ACLU (or things like it).
If the company would collapse due to the costs, or otherwise would be unable to pay the full costs, executive bonuses (and potentially some pay, with limits) may be reclaimed, both towards allowing payment, and preventing failure in "too big to fail" situations.
I miss anything?
People get restitution. Lawyers get rewarded for quality work. Companies both pay damages, and a penalty on top of damages. Executives bear responsibility as people, not just the corporate entity.
- danShumway 7y agoOff the top of my head, I'd have no issue with this. Sounds great, particularly in how it would expand the ways we could hold executives personally responsible. The request I would make is, "can we build a real, working version of the system you propose before we get rid of the existing one?" I'm not eager to throw away what we have on the promise that we could build something great afterwards. The annoyance I feel when I read articles like this is that it's a bunch of reporters saying, "we need to do something about lawyers", and I just feel like -- if I'm in a leaky lifeboat, don't tell me to jump out of it until you have another boat next to me that I can climb into. We all know the lifeboat has leaks, but this lifeboat is real, and yours is (at least for now) imaginary.
- Wowfunhappy 7y agoI don't think anyone here is proposing we get rid of class action lawsuits. People are annoyed because they think the class action isn't enough.