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by bradford
721 days ago
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> Does anyone find it strange that this is described as a loss for the victims? I can see it going both ways, yes: this means that 6 billion dollars are not immediately available for compensation. On the other hand, certain states (Washington was one, if I recall) argued that 6 billion dollars was such a pitifully small amount (relative to the damage done) that they declined to accept compensation in hopes that future lawsuits would yield more. I view this decision as rejecting the immediate compensation, but opening up possibility for greater compensation in the future (with obvious risks and delays). |
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As the dissent notes, “all 50 state Attorneys General have signed on to this plan.” The holdouts were “a small group of Canadian creditors and one lone individual.”
I always thought of the Sackler carve-out as a scam. But the dissent gives me pause. This ruling trades restitution for retribution. In all likelihood, many classes of victims—such as small victims, small states and local governments—won’t see a penny, at least for years.