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.
Fun Facts to Know and Tell: Bleak House Edition
Jun 8th, 2012 by wintercow20
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.