A prominent think tank out of Missouri, The Show-Me Institute, recently weighed in on legislation making its way through the Missouri legislature that would severely limit access to legal funding through overregulation. John Wright, a policy researcher for Show-Me, wrote that the legislation is “pitched as consumer protection, or even tort reform, but it falls short on both accounts.”
We agree with Wright when he says that the proposed regulation of legal funding “appears to ignore the merits of individual lawsuits, making it even more difficult for poor Missourians to pursue legitimate legal claims.” Further, we think it would make it more difficult for MOST Missourians to pursue legitimate legal claims.
With 62% of Americans lacking any emergency savings, many people who are injured in an accident find it hard to pay for extra expenses while they wait for a fair settlement. If they are so injured that they can’t work, making ends meet can become even more difficult.
The real consumer protection is giving people access to a competitive free-market where they can get affordable funding if they need it. People need options, not restrictions.
Read more of The Show-Me Institute blog HERE.