Comments on: Class action settlement: credit ratings in insurance

By: Deoxy

Deoxy — Thu, 22 Feb 2007 15:47:36 +0000

‘disparate impact’ is the biggest crock of s— in the whole PC pile of steaming fertilizer, and that’s saying a LOT.

By: David Wilson

David Wilson — Wed, 21 Feb 2007 17:21:18 +0000

Amazing, but not unexpected. Throw in a racial claim, and what would normally be subjected to cooler scrutiny flies through. Would it have mattered that credit ratings for minorities were, in fact, generally lower? Probably not, and that’s the insanity of the whole ‘disparate impact’ argument. This accomplishes nothing more than private-sector wealth-shifting.

By: Deoxy

Deoxy — Wed, 21 Feb 2007 15:26:16 +0000

markm,

You’v falln for the classic blunder: trying to apply logic to an accusation involving “give me money to go away”.

By: markm

markm — Wed, 21 Feb 2007 13:06:16 +0000

“Lawyers sued claiming that the credit ratings were really an improper proxy for race…” Does this mean poor white trash have good credit ratings???

By: Tex Mex

Tex Mex — Wed, 21 Feb 2007 13:03:06 +0000

…and the costs associated with defending and buying off these attorneys get passed on to consumers in the form of higher premiums.

Does class counsel have an ethical obligation to advise their clients that although they may win a few bucks or coupons, in the long run they may pay more for the same goods and services?

By: Deoxy

Deoxy — Wed, 21 Feb 2007 10:18:10 +0000

“And how could any judge approve this when the ratio of plaintiff recovery to lawyer take is 1/2,340?”

I don’t know, but it happens routinely.

“What a conmplete joke.”

No, how completely common. I almost said “normal”, but it’s not that – it’s sick.

By: Pat W

Pat W — Wed, 21 Feb 2007 07:18:20 +0000

“In the settlement, which was preliminarily approved in June, Allstate agreed to change its formula to include strictly financial factors like the number of late bill payments or how often items were purchased on installment plans.”

Uh, isn’t that what credit scoring is? lol

And how could any judge approve this when the ratio of plaintiff recovery to lawyer take is 1/2,340?

What a conmplete joke.