Fame v. Accuracy in Persuasion

Columnists in both the New York Times and Newsweek in the last few weeks have discussed how often we tend to be persuaded by people who are just plain wrong.  And, as a follow-up to our media and conflict resolution conference last week, it was interesting to realize what part the media plays in helping the wrong people to continually have outlets for their mistaken predications.  As Sharon Begley wrote:

Pointing out how often pundits’ predictions are not only wrong but egregiously wrong — a 36,000 Dow! euphoric Iraqis welcoming American soldiers with flowers! — is like shooting fish in a barrel, except in this case the fish refuse to die. No matter how often they miss the mark, pundits just won’t shut up. . . . The fact that being chronically, 180-degrees wrong does not disqualify pundits is in large part the media’s fault: cable news, talk radio and the blogosphere need all the punditry they can rustle up, track records be damned. But while we can’t shut pundits up, we can identify those more likely to have an accurate crystal ball when it comes to forecasts from the effect of the stimulus bill to the likelihood of civil unrest in China. Knowing who’s likely to be right comes down to something psychologists call cognitive style, and with that in mind Philip Tetlock, a research psychologist at Stanford University, would like to introduce you to foxes and hedgehogs.

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The Concise Gibberish of the Law

File:LangensteinsAisleJuly2008.jpgIf you like thinking about the way lawyers use words and how and why that usage is different from the way normal people, er, I mean, non-lawyers use words, take a moment this Friday afternoon to read Language Log’s take on the New Jersey case of a slip-and-fall verdict overturned because a law professor subsequently wrote an article about his experience on the jury, including his efforts to help explain what “proximate cause” means.

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First Dog Fighting, Now Pensions

In to the glamorous world of ERISA and pensions, former star quarterback Michael Vick now finds himself (via ESPN.com):

The federal Department of Labor is accusing imprisoned NFL star Michael Vick of illegally withdrawing more than $1.3 million from a pension plan . . . .

The department says Vick made a series of prohibited transfers from a pension plan sponsored by MV7, a celebrity marketing company owned by the former Atlanta Falcons quarterback. The department alleges that Vick violated his duties as trustee of a pension plan that covered nine current or former MV7 employees . . . .

The department says the plan assets were partially used to help pay the criminal restitution imposed on Vick after his federal dogfighting conspiracy conviction.

You see, my friends, ERISA is all about relevancy, and if Vick’s financial advisors had bothered to contact an ERISA attorney, they would have been told about such things as fiduciary duties and prohibited transactions by fiduciaries under Part 4 of Title I of ERISA.  My thought is this further mess for Vick could have been easily avoided if an attorney just recognized the potential legal consequences of Vick delving into his company’s pension plan.

Not only will Vick be required to make the pension plan whole, but he will also face penalties and interest. Ouch.

Not exactly how Vick wants to start off his new life after prison.  And did I mention Vick has already filed for bankruptcy?

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