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January 24th, 2011

Lawsuit Loan Industry Lobbies for Legalization in ‘Hellholes’ and Beyond

Taking aim at lawsuit loan industry lobbyists and investors now pushing to have their pernicious and parasitic racket legalized in several states, which, in some cases, are home to Judicial Hellholes, ATRA director of communications Darren McKinney scored a hit with a letter to the editor published in the New York Times on January 23.

McKinney lays out the historical opposition to such lending and asks state policymakers how they can even consider leaglizing it.  He singles out for good measure personal injury lawyer and New York State Assembly Speaker Sheldon Silver for having a personal financial stake in the lawsuit loan industry. 

The original Times story to which McKinney’s letter responds, “Lawsuit Loans Add New Risk for the Injured,” is a well-researched summary of the politics and abuses of third-party litigation finanancing.

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