Jump to full article: Denver (CO) Post, 2002-02-05
Intro: How can we put this gently? Senate Bill 2002-008 is a deal with the devil that puts the interests of the tobacco lobby ahead of those of the people of Colorado. The state Senate Judiciary Committee should kill it and then dance on its grave when it is reconsidered by that panel Feb. 11.
Okay, maybe that's too gentle.
In any event, we agree with state Treasurer Mike Coffman that this misbegotten bill - which would limit appeals bonds that tobacco companies would have to post to just $25 million, even if they lost a billion dollar lawsuit - "is special-interest legislation designed specifically and exclusively to protect the tobacco companies that are parties to the Master Tobacco Settlement Agreement."
Why should Colorado make such a deal with the devil? Well, in the unctuous logic of the tobacco lobbyists, to protect the revenue stream from our original deal with the devil, the tobacco settlement itself, of course. . .
Coffman warned about just such a conflict of interest when he endorsed "securitizing" the tobacco settlement . . .
If you don't trust the conclusions of Republican Coffman, consider the words of Colorado Attorney General Ken Salazar, a Democrat. Salazar believes SB 008, by capping the appeal bonds for specific tobacco companies who lose lawsuits in Colorado but imposing no such limit for any other businesses operating in this state, may violate the equal-protection clause of the U.S. Constitution.
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