Wal-Mart Effect Gives Lift To Stock Market After Supreme Court Delivers Defeat for Frivolous Class-Action Lawsuits

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

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NEW YORK SUN CONTRIBUTOR

The Wal-Mart victory handed down by the Supremes today is a great win for all business, and a huge defeat for frivolous class-action lawsuits.

This business victory by Wal-Mart is so bullish, I believe it drove up stocks today, with the Dow finishing 76 points higher. There was no new news from Greece. Today’s stock market rally was the Wal-Mart effect.

By the way, the slam-down on class-action lawsuits is also a victory for individuals. If people have a beef, go ahead and sue. But the Supreme Court just said no to sociological or cultural or general statistical models, which provide no evidence in these cases. No proof.

Literally, the class-action slam-down by the Supreme Court will save business billions and billions of dollars over time. And of course, the liberal left has waged war against Wal-Mart for years. So that gang took it on the chin today.

Then there’s my friend Nancy Pelosi. She said today’s Wal-Mart decision “sets back the cause of equality for women.” She went on to re-endorse various equal-pay bills, such as the Lilly Ledbetter Fair Pay Act and the Paycheck Fairness Act. You gotta love it.

After the dreadful NLRB lawsuit against Boeing’s freedom to choose — which is part of the war against business coming out of Washington — today’s Wal-Mart decision is welcome relief.

Like I said, it rallied stocks.

NY Sun
NEW YORK SUN CONTRIBUTOR

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.


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