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-- -- -- -- leaving taxpayers on the hook for more than half a billion dollars but there's one group that is cashing in on the deal.
Lawyers four point three million dollars in legal fees were paid for securing -- loan and now that the companies in -- of state.
You bet there's a lot more money going to lawyers come in and our next guest is not surprised.
Mark -- Gibbons says big government is a job stimulus program for the legal industry markets president of corporate and legal affairs at American.
-- is awful -- -- this is like insult to injury you know that.
Lawyers -- -- -- a -- by the way how I assume that lawyers are gonna make more from the bankruptcy of cylinder than they -- they did from getting the loan the first place right.
And and yes they well know get their money ahead of the taxpayers being repaid so there's plenty of money to be made and now -- crony capitalism.
With the way the Obama administration is doing it giving it two or companies that are going bankrupt.
By the way you say in a piece that you wrote about this government is America's biggest law breaker -- -- mean by that.
There America's biggest law breaker would -- close second in you can't play it Richard -- -- -- called.
The law that governs government starts at the top with the violations of the constitution by.
The White House and by members of congress.
And it works that way it's way down into the bureaucracies.
For example the Environmental Protection Agency is issuing regulations.
That it Texas attorney general.
Attorney general Greg Abbott has said violate the plane statutes that there intended to enforce.
So it starts.
At the constitutional level works its way into the administrative law level sometimes down even into the states and all this is good for lawyers.
Is very good for lawyers because they assist the government law breaking because.
They create situations in which they can make money.
Representing clients defending.
Their clients against government law breaking.
And in the case of us a lender for example.
Lawyers representing slender were paid 2.4 million in lawyers representing.
Department of Energy were paid another one point 99 dollars there issues of whether the loan should have been subordinated.
To the private investor rule happens to be an Obama campaign Butler so there's plenty of money for lawyers to make through government law breaking.
And it works out well for both crony capitalism and the -- industry.
And it also opens the door for a lot of frivolous lawsuits doesn't -- I can claim I mean granted there are a lot of people that are agreed by some of these government agencies like the EPA.
But I could claim that I was an aggrieved party and and may be hope to get a -- from EPA right.
Oh absolutely and and -- and so often.
The justice system protects government law breaking.
But makes it difficult for private citizens to -- government when government is broken life except in certain cases.
Where there are funds to go out to -- -- cronies of wherever in power so yes -- it works a number of different ways altered the disadvantage of the taxpayers.
Now in England they have this thing to prevent frivolous lawsuits -- that the loser pays if I bring up a frivolous lawsuit in the court.
And I lose that that loss and I have to pay the legal fees of everybody else including myself here of course you don't have to do that.
Would a rule change like that help our system to clear out some of these lawyers -- I think.
They like -- the mess your situation is the more they make out of it.
Here absolutely right and and I quote historian Gordon -- and my article and He talks about how of a complex laws.
Work to increase the influence of -- so yes we can't get to a system fast enough where the loser pays -- would discourage frivolous lawsuits.
Mark if it's given it's good to see a Marc -- -- it a good work or do I'd appreciate it.
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