Political Quotes

“I say to my friend, Senator Dodd, he and I actually agree about the vast majority of what he just said. I think this bill in place, if it passes, will do all the things the computer industry wants to protect them against Y2K problems. Joint and several liability is gone. There is a cap on punitive damages. The duty to mitigate isn't present. There is a 90-day waiting period, cooling off period. We have the 36 months. We have class action limitations. We have specificity and materiality of pleading. This is a very narrow, simple thing that we are trying to accomplish with this first amendment. We will enforce contracts as they exist. That is what these folks have been talking about at great length, and that is exactly what we should do. The problem is with those folks who do not have a contract, which is going to be the vast majority of Americans. When Senator Sessions says that the economic loss rule is a traditional rule, he is right about that. What my amendment says is that traditional rule stays in place exactly as it is. The problem is, the provision in this bill, in the McCain bill, is not the traditional rule. It contains no exceptions of any kind--no exceptions for fraud, no exceptions for reckless conduct, no exceptions for irresponsibility. The result of that is, regular people who buy computers--small businessmen, small businesswomen, consumers, folks who do not have an army of lawyers who went in and crafted contracts on their behalf--have no remedy.”