by Structured Settlement Watchdog
Long Island Newsday editorial writer Daniel Akst's book " We Have Met The Enemy Self Control in An Age of Excess" is an interesting read which centers on the conflict between our longer-term aims and our powerful interest in the pleasures of the moment.
This is a conflict that may face someone who has recovered a settlement of a personal injury or wrongful death lawsuit and a good reason that a plaintiff or plaintiff attorney should engage their own settlement consultant or settlement planner to help them with transitional financial planning.
In his March 19, 2011 review for "We Have Met The Enemy Self Control in An Age of Excess" the flippant remarks of David M. Kinchen, Editor of the Huntington News Network (West Virginia) on the structured settlement secondary market simply demonstrates his lack of financial literacy on the subject:
"As I write this, the J.G. Wentworth TV commercial is earwigging its way through my head: "I want my my (sic) money and I want it now!" scream the actors portraying recipients of structured settlements. Wentworth buys these settlements from insurance companies and other sources and renders unto the recipients a lump sum of money that they can go out and squander. Wentworth, of course, keeps a hefty percentage of the lump sum for its trouble".
- When I think of earwigs I'm thinking Star Trek II: Wrath of Khan and poor Mr. Chekov (above)
- More importantly, J.G Wentworth buys structured settlement payment rights from the holders/sellers of those rights, not from insurance companies.