November 30, 2010
Imagine that for no reason you have been beaten up by a policeman, are angry and want justice. You then learn that your right to sue has been taken away and you must arbitrate in a forum run by the fraternal order of police with one policeman as one of the three arbitrators.
Probably your first impression, like those of victims of investment fraud, is "kangaroo court"
Eliminating the mandatory industry arbitrator is step one in creating the impression of fairness. Step two will be making arbitration optional, not mandatory. If arbitration is a fair option, then it will be preferred.