With the market dipping these days, no doubt many of you are wondering where you should be putting your money. Well, maybe we should all take a page out of the trial lawyers investment book, as they have apparently found an investment with a phenomenal 10,000% rate of return.
According to a study by Health Care America, during the 2003-2004 election cycle, lawyers contributed $182 million to Congress. During this same time, trial lawyers received more than $18 billion in medical malpractice lawsuits — at least 40% of which a Harvard study found “groundless.” As you know, the trial lawyers’ minions in Congress have continued to effectively block any medical malpractice reform, so the trial bar can continue to reap the kinds of returns they’ve seen thus far. Apparently this is one case where past performance is an excellent indication, if not an outright guarantee, of future results.
Click here to see a chart comparing the trial lawyer’s investment in Congress to the more pedestrian returns of the Down Jones, NASDAQ and S&P 500.[Cross-posted on PointOfLaw.com]
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