Duncan Faircloth: “The Faircloth cap is an attempt to insert a bit of sanity into a world of attorney-fee madness. The national tobacco…”

“The Faircloth cap is an attempt to insert a bit of sanity into a world of attorney-fee madness. The national tobacco settlement has turned into the 'national lawyer enrichment deal.' Let me tell you a little about the current 'national lawyer enrichment deal.' Under the current bill, conservative estimates say that we are about to hand over approximately $4 billion a year to lawyers --$4 billion a year--every year--for at least the next 25 years. This, Mr. President, is absolutely outrageous. I am sure the friends of the trial bar will stand up and say I am exaggerating. They will say we are stretching this one. Lawyers aren't really asking for that much money, it will be said. They aren't that greedy, some will claim. They just want to be paid a fair wage for a good day's work. Well, let's see if I am exaggerating. Let's see if the trial lawyers just want a fair wage for a good day's work. Let's take a little tour of the 'national lawyer enrichment deal.' In Minnesota, where a few lawyers are reportedly seeking to rake in approximately $450 million, the lawyers in Minnesota actually took the case to trial, so it is reasonable to assume that they employed more attorneys and put in more hours than some lawyers in other States.”