Senate Kills Rule on Class-Action Suits against Financial Companies

vegeta535 said:
It doesn't matter who you vote in. Both sides are brought and paid all the same. The ones that actually have integrity and want to do the right thing never get the push from either side.
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Pretty much both parties flip flop on issues, cater to special interest groups, and love spending away money each in their own way.
 
Until everyone on both sides stops focusing on the petty politics of identity, and realizes that the real divide in our country (and indeed the world) is not between black and white, men and women, liberal or conservative but between the mega wealthy who seek to exploit us and everyone else, this is how things will be. The law exists for but one reason as a tool to protect those who wield power to believe otherwise is to delude yourself. Unless we all rise up and demand change this is how it will always be. Our destiny is written, our course is set, and only the collective action of all of us who are so oppressed can hope to steer the ship of humanity away from it's present course.
 
Thought I had read somewhere in the past that the whole point of class action lawsuits wasn't to reimburse the people who lost money but to make the offending company pay through the nose as a deterrent to doing the same thing again.

Not that any company ever gets fined enough that that would even matter....

Taking away the ability to sue them in court though.... bad idea. Now they have nothing at all to fear.
 
GlowingGhoul said:
LOL, the whiners here don't know what they're talking about.

How many of you have been involved in a class action lawsuit? Here's how it usually works:

Class action suit settles for $10,000,000
Lawyers fees = $9,900,000
The remaining $100,000 is divided amongst a million consumers.
Company raises prices for all consumers to cover the expense.

This was a Democrat gift to the lawyer'ss lobby, nothing else.

Passed by a Dem controlled unelected panel, not by Congress after public debate.
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That is not the intent of class action suits. The intent of class action suits is to allow wrong doing by banks to have financial consequences. The banks are less likely to commit fraud when they know some lawyer will file a class action.
 
Just to be clear this entire thing was a payoff from the democrats/Obama to the trial lawyers which is one of their biggest PACs. No one is getting screwed. Class Action lawsuits make lawyers millions and you like $20.
 
tbonepat11 said:
Just to be clear this entire thing was a payoff from the democrats/Obama to the trial lawyers which is one of their biggest PACs. No one is getting screwed. Class Action lawsuits make lawyers millions and you like $20.
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Goddamnit stop the nonsense, this was already proven to have been voted by Vicepresident Pence, are you saying that he is a Democrat now?

-.- Don't finger point if you don't know what actually went down, the link is in this very same thread after another poster tried to say the same BS that you did.
 
kinjo said:
Until everyone on both sides stops focusing on the petty politics of identity, and realizes that the real divide in our country (and indeed the world) is not between black and white, men and women, liberal or conservative but between the mega wealthy who seek to exploit us and everyone else, this is how things will be. The law exists for but one reason as a tool to protect those who wield power to believe otherwise is to delude yourself. Unless we all rise up and demand change this is how it will always be. Our destiny is written, our course is set, and only the collective action of all of us who are so oppressed can hope to steer the ship of humanity away from it's present course.
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It would be great if more people thought like that, I agree, anyone saying anything different is on the wrong side of right. People should demand the wrongs start to be righted, and when businesses and politicians don't listen, vote and vote with your money. Maybe then some change can start.
 
Let's say Comcast overcharges their entire subscriber base with a made up fee for, oh 7 months at $5 a pop making hundreds of millions in the process.

Does the arbitration system accommodate the MILLIONS of customers that need to file for $35? No. It'd never work. Comcast just gets away with it.

Class action is getting a shit sandwich and at least getting making the guy who made it for you have to take a bite. It's not ideal. Fixing the costs that lawyers can make as a percentage of a class action suit would fix THAT issue without stealing a right of consumers to functionally litigate these scams.

"But lawyers" is a shitty argument.
 
tbonepat11 said:
Just to be clear this entire thing was a payoff from the democrats/Obama to the trial lawyers which is one of their biggest PACs. No one is getting screwed. Class Action lawsuits make lawyers millions and you like $20.
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And once more...

This was today: "The vote was 50/50, with the tie-breaking aye cast by Vice President Pence."

This was previously passed in the lower house in July: "It passed the House on July 25 231-190, split right down party lines except for one defecting Republican who voted nay with the Democrats."

https://finance.yahoo.com/news/congress-votes-disallow-consumers-suing-033159253.html
 
Laws favoring the Trail Lawyer Lobbyists is designed to benefit them.

It’s always about the money even when they say it isn’t.
 
So if the big guys are immune to class-action lawsuits, then what is there to protect the small guys?
 
tbonepat11 said:
Just to be clear this entire thing was a payoff from the democrats/Obama to the trial lawyers which is one of their biggest PACs. No one is getting screwed. Class Action lawsuits make lawyers millions and you like $20.
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Well that took longer than expected.
 
serious said:
So if the big guys are immune to class-action lawsuits, then what is there to protect the small guys?
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Little guy just needs to pony up for a lawyer now!

Or hope more of those injury type lawyers start popping up, the ones that say "you don't pay unless we get paid" then take 50% of the settlement, but something tells me that they're not going to pop up since injury is often something that requires very little evidence.
 
kinjo said:
Until everyone on both sides stops focusing on the petty politics of identity, and realizes that the real divide in our country (and indeed the world) is not between black and white, men and women, liberal or conservative but between the mega wealthy who seek to exploit us and everyone else, this is how things will be. The law exists for but one reason as a tool to protect those who wield power to believe otherwise is to delude yourself. Unless we all rise up and demand change this is how it will always be. Our destiny is written, our course is set, and only the collective action of all of us who are so oppressed can hope to steer the ship of humanity away from it's present course.
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I agree completely, not that I have an expectation of anything changing. Divide and conquer is a very old strategy but a very effective one. Our tendency to form groups/tribes was essential to creating modern civilization and so many good things have come from it, but it can also be exploited quite easily.

Just keep blaming "racist rednecks" or "gay mexicans" instead of focusing on the real culprits. Nothing to see here move along.
 
I'm confused.

I really want to be against this legislation, but Elizabeth Warren is also against it.

I must be missing something because there is no way Elizabeth Warren could ever be for something that is actually good for the consumer.
 
Brought to Americans by your loving, and openly corrupt government, which you still bother to go out and vote for! And what's worse, is that you all believe that your vote makes a difference! You get the same shit no matter who you vote for, one day you will all realise it.
 
Biznatch said:
Really? How? You think the republicans would have supported any of his plans if he was in office? Hows that better than the 1.5T$ deficit increase budget that was just voted for by the supposed deficit neutral party, so they can justify the huge tax breaks for the rich/corporations? Yea they definitely need that money more than the people that can't afford health care or college education....

Shame on Bernie for pushing for an educated society and universal healthcare (which basically EVERY other modernized country has)..... It works everywhere else, so who are we kidding thinking it would work here.
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This "educated society" would come out of college with debt larger than any other generation with all of the student loans and being modern day slaves to the government to be "educated". I'm a bit of a weirdo and firmly believe that an education should be free rather than paying 100K+ for 4 years of education. Look at our society they have pushed college like mad for the last 30 years and now we don't have enough skilled workers.
Don't point fingers at One party ALL of them are to blame for this mess that was created the faster you realize that the better off you will be. Don't buy into any politicians lies, Bernie is a 1% and doesn't give a crap about anyone but his interests and the interests of his buddies just like everyone other slimy politician. If you think he cares......hahah jokes on you.
 
It's basically a "Get out of jail free" card. That recent fiasco with Wells Fargo, now they can screw you over, add phantom fees and fake accounts, and commit all the accidents and errors they want and no one can touch them except the government who is obviously in their pocket.
As for class action suits, yes lawyers get a large chunk and the victims get little, but it all comes out of the bank and that is what matters.
 
vegeta535 said:
It doesn't matter who you vote in. Both sides are brought and paid all the same. The ones that actually have integrity and want to do the right thing never get the push from either side.
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I realize that a third party getting elected in a sizable amount is a cold day in hell, but what if?
 
nutzo said:
I'm confused.

I really want to be against this legislation, but Elizabeth Warren is also against it.

I must be missing something because there is no way Elizabeth Warren could ever be for something that is actually good for the consumer.
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I'm kind of surprised to hear such a statement. What has EW done that is anti-consumer?
 
maxius said:
I am just going to say to those that voted for these people how have they moved the country forward? it looks fairly obvious they are quite intent on moving the country backwards on all fronts.
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All they have done is remove, rollback, cancel, and destroy. How about fixing current laws in the books or new ones to protect the people NOT corporations.
 
SomeoneElse said:
This "educated society" would come out of college with debt larger than any other generation with all of the student loans and being modern day slaves to the government to be "educated". I'm a bit of a weirdo and firmly believe that an education should be free rather than paying 100K+ for 4 years of education. Look at our society they have pushed college like mad for the last 30 years and now we don't have enough skilled workers.
Don't point fingers at One party ALL of them are to blame for this mess that was created the faster you realize that the better off you will be. Don't buy into any politicians lies, Bernie is a 1% and doesn't give a crap about anyone but his interests and the interests of his buddies just like everyone other slimy politician. If you think he cares......hahah jokes on you.
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He was pushing for free college, and there are plenty of other countries with similar systems in place that seem to be doing just fine.... The gov wouldn't want to lose all that money it makes on the student loan interest though.

And Bernie was the most straightforward/honest candidate in the last race. Maybe you should do some research into his past 20+ years in politics before making those claims, since he's been pushing for the same things the whole time, not a flip flopping piece of shit like all the others. I may not have agreed on all his policies, but I knew what I was getting with a vote for him. No one could say the same for the orange orangutan unless they were a complete idiot (although that does describe most of his supporters).
 
Biznatch said:
He was pushing for free college, and there are plenty of other countries with similar systems in place that seem to be doing just fine.... The gov wouldn't want to lose all that money it makes on the student loan interest though.

And Bernie was the most straightforward/honest candidate in the last race. Maybe you should do some research into his past 20+ years in politics before making those claims, since he's been pushing for the same things the whole time, not a flip flopping piece of shit like all the others. I may not have agreed on all his policies, but I knew what I was getting with a vote for him. No one could say the same for the orange orangutan unless they were a complete idiot (although that does describe most of his supporters).
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To be fair, that college tuition wouldn't be free - it's estimated that 5 years of free college for the whole nation would cost us one whole F-35. The military industrial complex wouldn't have that. Completely agreed on Bernie though - he has integrity, in that you know what you see is what you get.
 
Biznatch said:
He was pushing for free college, and there are plenty of other countries with similar systems in place that seem to be doing just fine.... The gov wouldn't want to lose all that money it makes on the student loan interest though.

And Bernie was the most straightforward/honest candidate in the last race. Maybe you should do some research into his past 20+ years in politics before making those claims, since he's been pushing for the same things the whole time, not a flip flopping piece of shit like all the others. I may not have agreed on all his policies, but I knew what I was getting with a vote for him. No one could say the same for the orange orangutan unless they were a complete idiot (although that does describe most of his supporters).
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He still aligns himself with the democratic party....still don't like the liberal agenda whether or not i agree with some of the policies when you hardline with a certain party you are part of the problem. He's better off independent than on either side if what you say is true. 20 + years of political office makes me a skeptic from the start. Im a firm believer in limited terms in office. We lost a "government for the people" when they started getting re-elected year after year after year.
I'm just a little jaded when it comes to politics as a whole.
 
SomeoneElse said:
He still aligns himself with the democratic party....still don't like the liberal agenda whether or not i agree with some of the policies when you hardline with a certain party you are part of the problem. He's better off independent than on either side if what you say is true. 20 + years of political office makes me a skeptic from the start. Im a firm believer in limited terms in office. We lost a "government for the people" when they started getting re-elected year after year after year.
I'm just a little jaded when it comes to politics as a whole.
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There is no possibility of winning a presidential election as an independent, he had to try and get on the dem ticket. "He's been there for 20+ years, he must be bad".... How about doing some research to base your opinion on instead of gut feelings/emotions? You should be jaded about politics, but that should drive you to educate yourself more, not fall into the same head in the ground emotional opinions driving most peoples votes these days.
 
GlowingGhoul said:
LOL, the whiners here don't know what they're talking about.

How many of you have been involved in a class action lawsuit? Here's how it usually works:

Class action suit settles for $10,000,000
Lawyers fees = $9,900,000
The remaining $100,000 is divided amongst a million consumers.
Company raises prices for all consumers to cover the expense.

This was a Democrat gift to the lawyer'ss lobby, nothing else.

Passed by a Dem controlled unelected panel, not by Congress after public debate.
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LoL, when is the last time they actually debated a topic and made a successful resolution? For awhile now its just each side taking turns jamming things through.
 
Biznatch said:
There is no possibility of winning a presidential election as an independent, he had to try and get on the dem ticket. "He's been there for 20+ years, he must be bad".... How about doing some research to base your opinion on instead of gut feelings/emotions? You should be jaded about politics, but that should drive you to educate yourself more, not fall into the same head in the ground emotional opinions driving most peoples votes these days.
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I guess what i'm saying is i'd rather not have to worry about my freedoms stripped away because its popular to do so. I live in a rural area where certain ideals don't hold water. I very much want to live my life they way i want to and not have someone who lives in LA, NY, Chicago tell me what is the right way to live. Hence why I don't like politics because its about pleasing the masses based on demographics and knee jerk reactions.
There are a lot of thing I didn't agree with Bernie so I wouldn't vote him.
 
SomeoneElse said:
I guess what i'm saying is i'd rather not have to worry about my freedoms stripped away because its popular to do so. I live in a rural area where certain ideals don't hold water. I very much want to live my life they way i want to and not have someone who lives in LA, NY, Chicago tell me what is the right way to live. Hence why I don't like politics because its about pleasing the masses based on demographics and knee jerk reactions.
There are a lot of thing I didn't agree with Bernie so I wouldn't vote him.
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I liked a bit of Bernies message but when he started selling out to the anti 2nd amendment folks he lost me. His record in the past 20 years had him supporting and upholding the 2nd amendment. He slid more and more left to compete with Clinton when he could have stayed on message. I guess the new cottage was worth the complete and total sell out he conducted.
 
dj_spanmaster said:
To be fair, that college tuition wouldn't be free - it's estimated that 5 years of free college for the whole nation would cost us one whole F-35. The military industrial complex wouldn't have that. Completely agreed on Bernie though - he has integrity, in that you know what you see is what you get.
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I've heard this before and no way that is remotely true. My wife did two years at a community college and three years at GVSU for a BA. $97,000 in student loans. She is just one student and did not even live on campus, though she did use student loans to help with living expenses. The average cost of tuition at GVSU is $23,000 a year and they have 25,000 students. 23,000 x 25,000 = 575,000,000. A F35 costs 100,000,000. Free college for all? i dont think so. Other countries pay for it with higher taxes on the population plus they probably limit the price a college can charge making it affordable.

My daughter broke her leg a few years ago. 15 minute procedure, set a cast -- no actual surgery. Billed us $18,000. Countries that have free health care and free college -- no way they are allowing costs like that to soar.
 
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buttons said:
I've heard this before and no way that is remotely true. My wife did two years at a community college and three years at GVSU for a BA. $97,000 in student loans. She is just one student and did not even live on campus, though she did use student loans to help with living expenses. The average cost of tuition at GVSU is $23,000 a year and they have 25,000 students. 23,000 x 25,000 = 575,000,000. A F35 costs 100,000,000. Free college for all? i dont think so. Other countries pay for it with higher taxes on the population plus they probably limit the price a college can charge making it affordable.

My daughter broke her leg a few years ago. 15 minute procedure, set a cast -- no actual surgery. Billed us $18,000. Countries that have free health care and free college -- no way they are allowing costs like that to soar.
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The 18000 bill isn't actually 18,000. This is usually reduced significantly by the insurance company. The hospitals see a fraction of that, the insurance companies are the biggest problem in healthcare.
 
SomeoneElse said:
The 18000 bill isn't actually 18,000. This is usually reduced significantly by the insurance company. The hospitals see a fraction of that, the insurance companies are the biggest problem in healthcare.
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I know what will solve that problem. Force everyone to buy healthcare insurance.
 
I don’t side with any political party, I believe they are both wrong, full of ass hats, and constantly re elected even though they keep fucking up.

Just bring on Skynet
 
jpm100 said:
I know what will solve that problem. Force everyone to buy healthcare insurance.
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That's a bandaid fix to the actual problem. How about we cap the cost of procedures? Wouldn't it be nice to know what a surgery/procedure would cost before you get it done and start getting 40+ separate bills in the mail over the next 10 months?

How about the fact that it's actually cheaper to buy airfair to Europe and pay for the entire operation out of pocket, than it is to get the same procedure done here with insurance?

We are stuck in the loop of stupid, where hospitals keep raising rates to cover the cost of uninsured not covering their bills, because they can't afford it. So insurance companies raise the cost of their policies to cover it. And the prices keep going up higher, so less people can afford insurance or the doctor bills.... etc. Until we fix this issue, nothing will improve.
 
Coffeve said:
I liked a bit of Bernies message but when he started selling out to the anti 2nd amendment folks he lost me. His record in the past 20 years had him supporting and upholding the 2nd amendment. He slid more and more left to compete with Clinton when he could have stayed on message. I guess the new cottage was worth the complete and total sell out he conducted.
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SomeoneElse said:
The 18000 bill isn't actually 18,000. This is usually reduced significantly by the insurance company. The hospitals see a fraction of that, the insurance companies are the biggest problem in healthcare.
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My out of pocket was $6,600 after whatever insurance did. Between me and my employer we pay about $1200 a month for my families health insurance. When a 15 minute procedure hits you for $6,600 out of pocket after insurance the system is obviously broken. Ive had this coverage for over 10 years -- easily paid in $120,000+ and we avoid going to the doctor like a plague. My last personal doctor visit was almost 30 years ago.
 
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