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September 22, 2008

Patrick Hindert Chums for the "Factoring Sharks" on AIG

by Structured Settlement Watchdog®

Monday morning quarterback Patrick Hindert's analysis of "The Week That Changed American Capitalism" begins with the tale of Hurricane Ike and the interruption of power for over 700,000 homes. In Hindert's case perhaps it should have stayed off.

Isn't it evident that Patrick Hindert is simply a tool for the misinforming opportunistic "cash now pusher" sharks that attempt to prey on tort victims over this crisis when he asks:

"How many of you utilized the negative 2005 A.M. Best announcement about AIG's financial condition (or the September 2008 AIG bailout) to discuss with your clients and customers IRC section 5891 and the state structured settlement protection laws?"

  • IRC 5891 is the section of the Internal Revenue Code that levies an excise tax on structured settlement factoring transactions (the process by which a structured settlement recipient sell their structured settlement payment rights for a discounted amount of cash) and sets forth exceptions to the tax. Hindert and others have mischaracterized the enactment of this code section as the watershed moment "making factoring legal".
  • Structured settlement protection acts set out certain consumer protections during the placement of structured settlements or sale of structured settlement payment rights. Unfortunately the laws are not comprehensive enough. Every state is dreadfully deficient in establishing and enforcing standards for the approach, marketing and solicitation of vulnerable consumers by "cash now pushers"

GIven that today's post is his first about AIG since he started blogging in 2004, where is Patrick Hindert's credibilty? Where was Hindert in the discussion about AIG in 2005, 2006, 2007 or early and mid 2008? 

From the perspective of the National Structured Settlement Trade Association membership thank you Patrick Hindert for your "transparency" concerning your factoring company allegiances.














Posted at 12:11 PM in AIG Bail Out | Contemporaenous Observations, AIG/American General Structured Settlements, Cash Now Pushers | The "Cash Now Fix", Cleaning Up "The Structured Settlement Neighborhood", Misinformation about Structured Settlement Factoring, Misinformation About Structured Settlements, NSSTA, Patrick Hindert |

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Guide to Structured Settlements 2022

  • What is a Structured Settlement? What You Need to Know
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    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
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    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
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    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 and for over 16 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary . John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

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  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
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  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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