"bad faith" or just flat stupid – the issue at the heart of McIntosh

While some, with no room to talk I might add, have made light of my comment about there being another side to the story of the surprising Motion to dismiss the extra-contractual claims in McIntosh.  There definitely is another side as no one folded and slipped away, at least not in McIntosh.

Judge Senter’s order made it official and Merlin himself has confirmed what reader Beau suggested and Sop defined in terms of Fifth Circuit’s decision in Broussard – the contractual claim remains. Anita Lee had that story, of course.

Pre-trial investigation, the McIntoshes’ attorneys now say, shows State Farm “had a reasonable basis for taking the position it did regarding coverage.” The only issue remaining is whether State Farm breached its contract with the McIntoshes by failing to pay what was owed under the policy and any damages that would be owed as a result.

Merlin also told Lee he would be very hesitant for people outside the lawsuit to try to read too much into what it means when parties dismiss causes of action or take other actions within this lawsuit. Of course, that hasn’t discouraged commenters declaring the McIntosh motion an all out victory for State Farm and kiss of death for other cases.  Thankgod for those like researcher in the blogosphere – else we slabbies, as the gabbies call us, would have to go it alone. Continue reading “"bad faith" or just flat stupid – the issue at the heart of McIntosh”

Free Unregulated Markets: Monday Evening Lagniappe for Taxpayer

Demand for the can’t miss paper fueled poor lending. Mozilo made a fortune and the taxpayer get stuck with the bill. Behold the results of a largely unregulated financial market. Does this inspire great confidence in the securitization of insurance risks?

The trick here is to grab your wallet and hold on tight when big business claims to be looking out for the taxpayers.

sop

Julia Reed on NOLA's disaster response

I borrowed Julia Reed’s update on post Gustav NOLA from the Ladder – great catch Editilla and you’re right about the title.  Dodging the bullet is distateful as both a title and an attitude considering the magnitude of the damage elsewhere in Louisiana – most of it covered by the news about what didn’t happen in New Orleans.

Reed, as usual, dishes up more of her excellent writing and, once again, reminds us that in NOLA there’s not just the southern tradition of funeral food but disaster food as well – and her take on Nagin alone makes this article a must read.

Three years ago, in preparation for Hurricane Katrina, Bob Rue, owner of The Sarouk Shop, an Oriental rug emporium on New Orleans‘s grand St. Charles Avenue, boarded up his windows with plywood and painted on a warning: “Don’t Even Try. I am Sleeping Inside with a Big Dog, an Ugly Woman, Two Shotguns and a Claw Hammer.” It worked. Almost every business lining the Avenue, from Smoothie King to the Please-U Restaurant, was trashed and looted-except for those within viewing distance of Rue’s sign. Continue reading “Julia Reed on NOLA's disaster response”

Hurricane Ike hits Cuba – US plays politics with aid

Google took me to this news from India

U.S. Secretary of State Condoleezza Rice wrapping up a trip to North Africa, told reporters that Bush consistently has said the U.S. would be responsive “to a cuban regime that is prepared to release political prisoners (and) has a process to get to free and fair elections.” But, she added, “we can see nothing that suggests that has come about.’

– YouTube provided the pictures suggesting it might not be a convenient time to for policy discussion and the Miami Herald this quote from Senator Obama  who…took pains to emphasize that he wasn’t calling for lifting the embargo.

This is a time when the Cuban people – not Castro – need and deserve American compassion and assistance,” he said. “The Cuban American community stands ready to directly assist their family members in this time of need. A failed Bush administration policy, however, stands in the way of moral and necessary aid.”