mr. speaker , i rise in opposition to s. 5 , the so-called class action fairness act . 
few of us would stand here and argue that there is too much accountability in corporate america today . 
in recent years , millions of our constituents have been swindled out of their retirement savings by corporate crooks at enron , worldcom , and other companies . 
for years , many unscrupulous mutual fund managers were skimming off the top of their clients ' investment funds . 
drug companies put new products on the market like vioxx that they knew to be unsafe . 
this bill is a windfall for companies that have profited while causing harm to others . 
and no industry is in a better position to benefit than the tobacco industry . 
it 's little wonder that tobacco stocks rallied at the news that the senate had passed this bill . 
i 'd like to read from a wall street analyst 's view of how this bill would impact the tobacco industry . 
`` flash -- senate just passed class action bill -- positive for tobacco , '' the analyst writes . 
`` the senate just passed a bill 72-26 which is designed to funnel class-action suits with plaintiffs in different states out of state courts and into the federal court system , which is typically much less sympathetic to such litigation . 
the practical effect of the change could be that many cases will never be heard given how overburdened federal judges are , which might help limit the number of cases. '' i only wish that the proponents of this bill would use such candid language to describe its true intent -- to make sure that legitimate cases are never heard , and to shield corporations from accountability for their actions . 
the class action system is a major reason why we have safer consumer products , more honest advertising , cleaner air and drinking water , and better workplace protections than many other countries . 
all of us are empowered by the right to band together and seek justice . 
class actions are one of the most effective and powerful ways we have to hold people accountable for their actions . 
i oppose this attempt to shut the courthouse door to people who have been wronged . 
