August 13th, 2009

Tort Retort. . .

One thing I have found interesting with the Healthcare Town Hall Shoutdowns and Riots is that whenever one asks a critic of healthcare reform how he would lower costs and expand coverage, they always point to tort reform and deregulation.

Really? John already pointed out what happened with credit cards and deregulation (most opened shop in Delaware or another state with no usury laws) but the credit card industry is also a case study for the things that can happen when you can't sue them -- and binding arbitration hasn't seemed to slow down the increase in fees and interest in that industry. I can't think of any place where tort reform has cut cost for the consumer.