American Corporations Ask Obama To Excuse Their Mistakes
Attorney Andrew Cohen recently wrote an article for CBS news analyzing a recent move by corporate America. According to the report, the U.S. Chamber of Commerce has asked President-elect Barack Obama to protect corporate interests in the U.S. litigation system, claiming this will help protect jobs in the failing economy. As Cohen noted, however, this economic crisis is largely a result of corporate greed. As Cohen sees it, corporate American is attempting to escape punishment for its mistakes and protecting the interests of Big Business.
Cohen noted that the Chamber has been lobbying for a deregulated industry and lax consumer protection laws for decades. For years, they have been successful. Congress has had little oversight over commerce and the mortgage industry and laws have been pushed that tend to favor employers rather than employees. As the economic crisis worsens, the nation is now seeing the results of these efforts.
According to the article, corporate America has been trying to protect itself by limiting litigation attorneys’ abilities to sue for corporate malpractice and misdeeds. As Cohen noted, plaintiff attorneys are not responsible for the economic crisis: corporate America is the cause.
Cohen believes a restoration of the economy will not be continued protection of Big Business from lawsuits and regulation. In order to restore the economy and ensure this does not happen again, Cohen believes, corporate America needs to be faced with more restrictions and the threat of lawsuits when they misstep. Corporate America needs to be liable for their mistakes.
