Virginia Attorney General Bob McDonnell Discusses Role of State AGs
The now-disgraced former New York Governor Eliott Spitzer's rise to power included his aggressive pursuit of Wall Street firms as New York’s attorney general. With virtually unchecked legal power, Spitzer went after some of America's largest companies.
With increased legal and political power, many states’ attorneys general have followed Spitzer’s lead and adopted a more active role, often referred to as “regulation through litigation.” Some attorneys general have aligned themselves with trial lawyers, who work on a contingency fee basis to pursue fishing expeditions against corporations, all in the name of “consumer protection.”
What is the role of states’ attorneys general? Should they be watchdogs or bulldogs?
Virginia Attorney General Bob McDonnell recently joined CFIF Corporate Counsel and Senior Vice President Renee Giachino to discuss his role as attorney general, which he believes requires a balanced approach between good consumer protection and protection of the free enterprise system, and how this approach and the state’s legal reform climate have helped Virginia earn a top ten ranking as a pro-business state.
What follows is the interview originally heard on "Your Turn - Meeting Nonsense with Commonsense" on WEBY 1330 AM, Northwest Florida's talk radio...[Listen to the interview here.]