Asbestos Bill Hopes Blossom, Then Wither

Should Congress bail out the companies responsible for the asbestos crisis?

Apparently some seem to think so:

As the legislative day dawned on Capitol Hill yesterday, an unexpected ray of hope arrived with it: A bill to resolve the asbestos crisis, pronounced dead a month ago, appeared to be alive once more.

“I think that we are very close to a deal,” Arlen Specter (R-Pa.), chairman of the Senate Judiciary Committee and the leading advocate of a legislative solution, said at a news conference.

The stock market took heart, and shares of such asbestos-tainted companies as W.R. Grace & Co. and USG Corp. rose briskly.

Specter said he had begun circulating his 300-page bill, and early returns were good. Some key Democrats said they could support it.

“It’s a voluminous bill, so it’s going to take a little time for people to read it,” Specter added. “And I still do not have the final results until senators take a look at it, but I’m more than hopeful, I’m optimistic we’ll have a bill which will get out of committee and beyond.”

I personally believe Congress should stay out of the matter. If your products cause thousands, if not hundreds of thousands, of people to contract lung cancer (and/or mesothelioma), you shouldn’t get a ‘Get out of jail free card’ from the Congress. (just my humble opinion)

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