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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (44434)7/28/2010 6:21:34 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: The assumption of risk is a separate action than the cap on liability. A cap is saying A may only get $B from suing C about issue D. That isn't "the government will make up the difference".

It is the balancing half of the equation.

When oil company liability for their off-shore blow-outs and spills has a hard cap, (and damages exceed that cap), the costs for damage mitigation and remediation of those damages are passed to the public commons, to the nation itself rather then allowing them to stay where they belong WITH THE RESPONSIBLE PARTY.

And --- with the other example that I gave, Price Anderson and nuclear power plant accident liability --- the risk for *all* damages above and beyond the statutory damages cap is SPECIFICALLY passed along to the government!
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