Wednesday, June 25, 2008
Leaps and Bounds
Trying to accomplish anything in the law comes with one caveat. THE LAW IS SLOW. Today, the Supreme Court released a decision in the Exxon-Valdez case. For those not familiar with the facts... you were obviously not self aware in the 80s. TWENTY YEARS AGO some drunken sailor plowed into a rock in Alaska and spilled a lot of precious oil and hurt a bunch of seals. The decision today focused on one of those uniquely American court practices of punitive damages. That is, damages that have no real legal or factual basis (surprisingly Juries have no remorse giving money away from large companies even without any reasonable basis to do so). The court for many reasons (including the fact that many of the people affected have either died or moved away from the location affected) felt that $2.5 billion a top a relatively generous sum was too much.
Much of the legal argument part is boring. I just want to highlight that it took twenty years!!! Plus, I'm sure there is still a long way to go like distribution of the rest of the money, etc. Plus I think the otters are arguing for specific performance; they want Exxon to bring them fish instead of money. Any suggestions as to who their lawyer should be?
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