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Senate Panel OKs Asbestos Trust Fund Bill

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maddezmom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-26-05 05:56 PM
Original message
Senate Panel OKs Asbestos Trust Fund Bill
By JESSE J. HOLLAND, Associated Press Writer
6 minutes ago



WASHINGTON - Manufacturers and insurance companies would be shielded from multimillion-dollar lawsuits from people with asbestos-related diseases in exchange for funding a $140 billion trust fund under legislation that has cleared its first hurdle.


Supporters claim a fund like the one the Senate Judiciary Committee approved Thursday is the only way to stop large asbestos lawsuits that have bankrupted such companies as Owens Corning Fiberglas and W.R Grace, and left sick people with no way to pay their medical bills.

The trust fund would compensate people sickened by exposure to asbestos, a fibrous mineral commonly used in construction until the mid-1970s. Asbestos has tiny fibers that can cause cancer and other ailments when inhaled. Millions of people have been exposed, and the diseases often take decades to develop.

Bill supporters say a trust fund would speed money to those suffering from asbestos-related illnesses and it would protect companies from the prospect of being sued out of existence.

~snip~
more: http://news.yahoo.com/s/ap/20050526/ap_on_go_co/asbesto...
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AtLiberty Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-26-05 06:17 PM
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1. This fund is BS...
When you look at the bill more closely, it's a bad deal for victims of asbestos injury. Tens of thousands of people await compensation which have been effectively stalled for years by defense attorneys. There were bill tens of thousands of future cases.

Do the math.

Not to mention another strike against those damn trial lawyers...
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donkeyotay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-26-05 06:25 PM
Response to Original message
2. I always wonderred if Cheney's takeover of Dresser was a buy in to
the presidency. A little favor to Papa so he could pad the dim son education preznit's cabinet with fucking warmongers.
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