Wednesday, January 31, 2007

Personal Responsibility

Maggie Rizer is a nationally-known supermodel (whatever that term means) who was in the news not too long ago after it was revealed her stepfather, a compulsive gambler, drained her accounts to play Quick Draw in Watertown bars. She sued the bars who let him gamble as well as the banks that were handling the money, claiming they were not performing necessary duties. A Supreme Court decision just came down in the case, declaring that there was no duty on the bar owners or the banks. In part, this decision refused to impose a duty on the bank where Ms. Rizer had been sent regular statements reflecting her account activity. The moral of the story is that, even if you've hired someone to handle a job for you, it's probably good to not abdicate all responsibility for important affairs.


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