U.S. Bankruptcy Court Approves $500 Million St. Paul Travelers Asbestos-Related Settlement

National • Aug. 18, 2004

“If you divide the huge sum of money by the number of claimants we arrive at a startling fact: each claimant will receive a whopping $741.67. What has been accomplished? A manufacturer has been forced into bankruptcy and now an insurance company will take a huge hit, all so that someone who might get sick can get a very small sum of money. How many jobs were lost along the way? Read The King of Torts by Grisham for an interesting insight into the class action lottery. Note also that these claimants give up all future claims against Johns-Manville and Travelers. How far is the $741.67 going to go when they get really sick? We are way past the time to make changes to our legal system. Remember, this is how Edwards made his money – do you want someone like this as second in command in the executive branch?”

– Kevin Rasmussen, Charlotte, N.C.