Exponentially Innumerate

A story just came out about Bridgegate legal fees that began:

The Bridgegate legal bills are just starting to come in, totaling $4.4 million so far. But that number is going to increase exponentially

which absolutely stunned me until it occurred to me that the author likely has only a vague idea of what an exponent is and so the innumerate coverage of financial issues continues.

The story continues:

that’s because 43 people are getting their legal fees paid for by the public, and we have yet to see hardly any of those bills.

The bills for the law firm, Gibson Dunn, retained by Gov. Christie to write an internal review and respond to subpoenas, of $3,247,506.60 were included in the $4.4 million while one would expect the lawyers for the other 43 ‘little fish’ to not bill anywhere near that much so an exponential increase in that $4.4 million is hardly possible.  For example, with an exponent of 5 that final amount would come to $1.65 billion which is a little more than the pension payment Christie intends not to make later this month ($1.55 billion).  If everyone impacted by Bridgegate (including those drivers inconvenienced at the GWB) got Gibson Dunn to prepare individual reviews it would be unlikely to reach those levels.

What the writer probably meant was that the $4.4 million would be increased by a multiple since a factor of 6 applied to that $4.4 million would get us to $26 million, a bargain by Christie standards, but an exponent of 6 would come to $7.3 billion, ridiculous even if it included  (insert your own Christie fat-joke here).

 

 

 

9 responses to this post.

  1. Posted by Anonymous on June 10, 2014 at 10:33 pm

    TL will have no problem at all with his as she benefits from this sort of rip off of the taxpayer.

    Reply

    • Posted by Tough Love on June 11, 2014 at 12:35 am

      You’re getting pretty desperate.. Am I now also an attorney, billing the taxpayers?

      Do NJ’s Cities or the State look for at least minimal intellect in the hiring process?

      Reply

  2. Posted by Anonymous on June 11, 2014 at 1:09 am

    Tl benefits from private sector ripoffs of the taxpayer, Dont let her fool you. She works in the insurance industry, they are even riicher than the oil companies and willing to steal as much money as possible from the taxpayer whether it be directly or with the help of the government. She has been exposed and will fight back like a cornered rat.

    Reply

    • Posted by Tough Love on June 11, 2014 at 9:00 am

      Ah, more desperation ……………… you never stop trying to distract readers from the ROOT CAUSE of NJ’s financial difficulties … the grossly excessive pensions & benefits promised all of Public Sector workers ?

      Reply

  3. Posted by Anonymous on June 11, 2014 at 9:13 am

    To the contrary, your first priority is the distract in order to continue your blatant ripoff scheme. Ironically but you have caused the biggest deficit, insurance costs which you directly benefit from! You have been exposed!

    Reply

  4. Posted by Anonymous on June 11, 2014 at 1:18 pm

    You are a fraud and you have been exposed! But at least you will have the opportunity to pay your taxes when they offer tax amnesty! yaboy!

    Reply

  5. Posted by Anonymous on June 11, 2014 at 11:55 pm

    Bingo! You couldnt control yourself, could you? The name calling commences again! You are so easily baited.

    Reply

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