The Wall Street Journal
had an interesting commentary last week concerning Mississippi Attorney General
Jim Hood and his “shake down” of State Farm resulting from claims
made following Hurricane Katrina.  All too often we see activist Attorneys
General clamoring for headlines or political profit at the expense of real
results.  As the Wall Street Journal observed
(link
– subscription required):

Attorneys
General are immensely powerful and are supposed to enforce the law fairly and
without playing favorites.  Instead, many of them have essentially become
business partners with the trial bar to shake down companies for cash and
political gain.  In an earlier day, this would have been known as an
absolute power corrupting absolutely.

Infamously known, trial lawyer Dickie Scruggs is at work again –
you may recall his firm reaped in a substantial reward following the 1998 Master Settlement Agreement
to the tune of $1.4 billion by the time they collect their last penny. 
This time – he is partnering with AG Hood, already earning himself a cool
$26 million from the original 640 claims settled with State Farm following
Katrina (Attorney: 
State Farm settlement possibly "can't be fixed") But
that is not enough – and they are going for more. 

The end result – State Farm believes the political and legal
environment is instable in Mississippi and it’s time to pack up.
 This after the company was referred to by the AG as “robber
barons.” With this kind of love – why would you stay?

Interestingly enough, AG Hood has also gone to D.C. to seek
Congressional intervention – i.e. more regulation.  Remarkable
coming from a man who was noted in a profile in LegalNewsline
as a “self-proclaimed
‘free-marketer.’”  Not sure what school of
economic though he comes from – but he has gained a reputation as a “sue-first, ask-questions-later”kind of guy.  Not really the role of
an Attorney General.