In this time of national economic crisis, the Bush administration and Congress are implementing a legislative package aimed at resolving the country’s current financial problems. However, the banks are seeking not only money from the taxpayers, but immunity from lawsuits concerning their unscrupulous lending practices.

It was a hard pill to swallow; $700B to bailout the huge companies that got themselves in this mess. However, when you hear about companies like AIG taking $400,000 junkets after receiving Federal assistance, it just makes your blood boil. However, the chickens need to come home to roost eventually and certainly the banks are beginning to run for cover. Seeing the vulnerability of their position, they are beginning to ask for immunity from lawsuits brought by defrauded investors and shareholders. Congress should do everything to prevent immunity to these lending institutions of investors and shareholders. At Shaffer & Gaier, we have represented consumers who were taken advantage of by these businesses.

In addition to managing our law firm, Michael Shaffer also serves on the Board of the Trustees of the Bala House Montessori School in Bala Cynwyd, PA. Michael has three children, Sophie 8 years old and Sam and David, twins who are quickly approaching 5. All three of his children have attended this terrific school and Michael is proud to be on the Board of its Trustees.

Just last week, the Bala House Montessori School, after 20 years of saving, investing and raising money broke ground on a new wing. Michael is the Chairman of the Development Committee which has raised over significant monies toward this $3M project. One of the best things about the Bala House Montessori School is its diversity. Although its school is located on the Main Line, it boasts diversity of almost 40%; offering scholarships to economically disadvantaged children throughout the City of Philadelphia. At Shaffer & Gaier, we take our commitment to the community very seriously and sometimes this is the most rewarding work we do.