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A 1992 study by the Rand Institute for Civil Justice ("Superfund and Transactions Costs: The Experiences of Insurers and Very Large Industrial Firms") finds that 88% of the money paid between 1986 and 1989 by insurance companies to pay Superfund claims was administrative and legal while only 12% of the funds were allocated to mitigation of damages.

One Response to “Fun Facts to Know and Tell: Bleak House Edition”

  1. chuck martel says:

    Nothing happens in this country unless the secular priesthood legal profession gets their share of the proceeds.  It's been pointed out that former solicitor-general Ted Olson's law firm charges $1800/hr for his time in bankruptcy cases.  Why would anyone want to pay that kind of a fee for going out of business?  It seems that legal billings are considered part of the GDP, too.

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