Jack Fields: “reclaiming my time, let me address a few of the points the gentleman has just made. First of all, with regard to the…”

“reclaiming my time, let me address a few of the points the gentleman has just made. First of all, with regard to the loser-pay provision in our bill, there is a substantial justification clause, and the court has the discretion in the requirement for the posting of a bond. On the second point, we do have a legitimate disagreement on the specificity of pleadings. I think it is important to have pleadings that are specific. The third point the gentleman made is with regard to joint and several liability. Joint and several liability is in this statute where there is knowing fraud. Again we have talked about this, and we have been willing to stipulate that the cases we are aware of at this particular moment are cases that are legitimate that the county governments and local governments have against others. The final point the gentleman made was regarding the fraud on the market. Nothing is changed with this particular statute based on what the law is at this particular moment. We are codifying Levinson.”