Friday Roundup, May 24th

  • And on that day the markets will freeze, businesses will shutter, homelessness will skyrocket, and we will plunge into a Great Depression 2.0. But what was the evidence relied upon by the government smart-set at the regulating agencies in those fateful days of September 2008? Answering this question is Vern McKinley’s Financing Failure which Todd Zywicki reviews this week @ Law and Liberty. McKinley’s book is the product of numerous litigated efforts to get the information used by the government to support its bailouts for the greater good. The verdict wasn’t actually supported by robust evidence, concludes McKinley.
  • Getting class action fees right: Ted Frank reports on his recent victory forcing class action attorney fees to be attributable to the actual settlement obtained for the class. The particular case in question, In re HP Inkjet Litigation (9th Cir. 2013), is especially appalling because the lawyers were to receive a $2.9 million payout in fees while securing for the aggrieved class members almost worthless coupons to use at Hewlett Packard’s website. Money for the lawyers, coupons for the plaintiffs, and profits? for HP. Really.
  • Nicole Gelinas reports on the British Evasion since 2008 of its fiscal woes. Refraining from reforming massive entitlement spending means repeatedly drawing blood from the middle class in order to show cuts, which turns them against the case for cutting spending and size of government.