Senate rejects trust fund for asbestos victims

[Rose Siding]

WASHINGTON - The Senate rejected Tuesday evening a delicately crafted bill to relieve companies from mounting asbestos lawsuits, effectively killing the legislation in a significant setback for the White House and the Senate's Republican leadership.

In a 58-41 vote, an alliance of liberals and fiscal conservatives defeated the legislation on a parliamentary maneuver. Senate Majority Leader Bill Frist, R-Tenn., reserved the right to bring the legislation back for another vote later this year, but that appeared highly unlikely, and lobbyists involved said the measure appeared dead. The House of Representatives never took it up.

The defeat leaves unresolved one of the country's most vexing legal problems - the explosion of lawsuits by asbestos victims and their families against companies that produced or used the carcinogenic fire retardant material. About 600,000 lawsuits are pending and as many as 75,000 new cases are filed annually.
...
"We are not only plunging into the darkness with this trust fund ... we're putting at risk the lives and fortunes of families across America," said Sen. Richard Durbin of Illinois, the second ranking Democratic leader.

Sen. John Ensign, R-Nev., who was behind the procedural move that killed the measure, said he felt uncomfortable siding with trial lawyers, but said the fund may prove inadequate and require a federal bailout.

http://www.realcities.com/mld/krwashington/13872365.htm

[Charlie Brown]

1. Too bad these "fiscal conservatives" also support

funnelling billions into the occupation of Iraq and Afghanistan, and giving tax money to churches.

[Sadie5]

2. Required a Fed bailout?

This was the reson on Senator gave for rejecting this bill. If he doesn't like Federal money to be spent then take away Bush's Iraq funding.

[Atman]

3. This is GREAT NEWS! It hits Halliburton hard

Halliburton acquired the bulk of the asbestos suits when it purchased the manufacturer(s), and thus acquired a huge liability which caused its stock price to plummmet. If Halliburton had not managed to turn a huge profit off the Iraq war and turn its stock price around, Dick Cheney could have been held personally liable for the shareholders losses resulting from the acquisition. That's the law. Lucky for him the war was so profitable.

Oh, wait...lucky? Hmmm. Maybe the war wasn't just pure luck for Mr. Cheney.

[orleans]

18. well, isn't this just great. (not!)

now we're gonna have to start a whole new freakin war just so halliburton can go in and "rebuild" some stuff--just to keep up with where they are today (location: rolling in dough!)

[Betsy Ross]

4. Could this be a sign of the turning tide?

Will these same "fiscal conservatives" continue to vote independent of the WH dictates?

How many did Arlo Guthrie say it takes to create a movement? 3?

[Atman]

5. Bad timing for Dicky-poo

This probably wasn't the best day for lawmakers to have to consider giving Dead-Eye Dick a free ride.

[mom cat]

27. Oh Shoot!

[Charlie Brown]

6. Here's the roll call

A very odd line-up.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=109&session=2&vote=00021

[Rose Siding]

8. I always look for Murray's vote on asbestos stuff. She was teamed

with Paul Wellstone on this issue.

[Laelth]

22. I am confused.

The vote was 58-41 in favor of the measure to bail out Halliburton. If that's so, the resolution passed. So, why does the headline say that the Senate rejected the measure?

:shrug:

-Laelth

[Charlie Brown]

23. I get the impression it was a procedural vote

Apparently, the supporters of the bill needed 60 votes to clear budget objection, and Frist only voted with the nays so that he could resurrect the bill later. So, the "good guys" are the 41 Sentors who opposed the bill, minus Frist.

http://www.nytimes.com/2006/02/15/politics/15asbestos.html?_r=1&oref=slogin

WASHINGTON, Feb. 14 — The Senate decided on Tuesday night to all but kill legislation to create a $140 billion fund to compensate victims of asbestos poisoning.

Supporters of the measure, led by Senator Arlen Specter, Republican of Pennsylvania, fell just short of the 60 votes needed to waive a budget objection raised about the legislation. The final vote was 58 to 41, and with powerful interests on both sides it did not break down along party lines.

Senator Bill Frist, the Republican majority leader and a strong supporter of the legislation, changed his vote from yes to no at the last moment so he would have the option of calling for a recount "at some later date," he said.

[Laelth]

24. Cool.

Thanks for clarifying that. :toast:

-Laelth

[JerseygirlCT]

26. So confusing!

So the yeas wanted the measure to pass. The nays wanted it to fail. The lower vote was enough to block its passage?

Is that right?

Ack, my head hurts!

[JerseygirlCT]

25. Very odd, indeed

Kerry, Kennedy and Boxer voting Nay?

What the heck am I missing here?

[NoodleyAppendage]

7. Good!!!! No break for that corporate killer...Halliburton!

That "trust fund" was simply a way for the negligent corporations to shield themselves from further ligitation for their misdeeds.

JB

[dweller]

9. K&R!

man, this must be a shot to Cheney.

pun intended.
dp

[stevedeshazer]

10. Asbestos Bill Is Sidelined by the Senate (NYT)

WASHINGTON, Feb. 14 — The Senate decided on Tuesday night to all but kill legislation to create a $140 billion fund to compensate victims of asbestos poisoning.

Supporters of the measure, led by Senator Arlen Specter, Republican of Pennsylvania, fell just short of the 60 votes needed to waive a budget objection raised about the legislation. The final vote was 58 to 41, and with powerful interests on both sides it did not break down along party lines.

Senator Bill Frist, the Republican majority leader and a strong supporter of the legislation, changed his vote from yes to no at the last moment so he would have the option of calling for a recount "at some later date," he said.

Still, advocates for the measure held out hope that they could reverse the outcome. On Tuesday night, Senator Specter, its chief sponsor, issued a statement that the one senator who was absent from the chamber, Daniel K. Inouye, Democrat of Hawaii, had told him he would vote to waive the budget objection but he had gone home because his wife was ill.

more: http://www.nytimes.com/2006/02/15/politics/15asbestos.html?_r=1&oref=slogin

[Viva_La_Revolution]

11. Too bad!

Now all those poor companies will be responsible for the death and misery they have caused to their employees. I weep for them. :sarcasm:

:hi: Steve! Happy VDay!

[stevedeshazer]

13. Same to ya!

:) :hi:

[stevedeshazer]

12. And, another good reason to support Jack Carter in Nevada vs Ensign

<snip>

Senator John Ensign, Republican of Nevada, lodged the procedural objection to the bill. He maintained that it violated a Congressional limit on spending. Conservatives have raised concerns that the fund could be insufficient and therefore require a federal bailout. Liberals also hold that the fund is insufficient, but say that is because manufacturers and insurers are not being required to contribute enough.

-----------

There you have it. Too expensive to take care of our own workers who've been poisoned by asbestos, but we can charge up a deficit that includes $12,000 for every Iraqi and they still don't have electricity.

:grr:

[Straight Shooter]

14. Flashback to bush's SOTU address, 2005:

Justice is distorted, and our economy is held back by irresponsible class-actions and frivolous asbestos claims -- and I urge Congress to pass legal reforms this year. (Applause.)

http://www.whitehouse.gov/news/releases/2005/02/20050202-11.html

================================

Halliburton acquired Dresser Industries, including its asbestos liabilities:

Analysts, however, are far more worried about Halliburton's potential liability for more than 300,000 pending claims by people who blame the company for their exposure to asbestos, a heat-resistant material with fibers that can cause lung disease if inhaled.

The burgeoning asbestos problem has caused critics to question the hallmark of Cheney's five years at the helm of Halliburton: the $7.7 billion acquisition of rival Dresser Industries Inc. in 1998.

The deal doubled Halliburton's size overnight and allowed it to claim it was the world's leading oilfield-services company. But most of Halliburton's current asbestos claims were inherited from Dresser.

http://www.enquirer.com/editions/2002/09/02/fin_cheney_left.html

============================

Why, oh why, can't fweepers connect these HUGH!!!11!! dots?

[stevedeshazer]

16. They're selling out our kids and grandkids to Halliburton

"Frivolous" my ass.

[sandnsea]

15. Good

This is nothing but a bail-out for Dick Cheney, Halliburton and Grace Industries. That's free market, you create a product that kills people, you pay for it.

[Higans]

17. Screw the poor ad the middle class.

who needs them any way?

[muchacho]

19. Asbestos Bill Is Sidelined by the Senate

WASHINGTON, Feb. 14 — The Senate decided on Tuesday night to all but kill legislation to create a $140 billion fund to compensate victims of asbestos poisoning.

<SNIP>

The bill, more than two years in the making, became a casualty of powerful business interests opposed to it, as well as of a forceful coalition of conservative and liberal senators. The conservatives argued that the measure could lead to a new and expensive federal entitlement program. The liberals maintained that the asbestos fund was not large enough to compensate victims and was a bailout for asbestos companies and their insurers.

Supporters said the bill was needed to compensate victims and their families, alleviate a crisis among manufacturers and deal with a growing number of cases in the courts.

An estimated 10,000 people die each year from exposure to asbestos, primarily in the workplace. Dozens of companies have sought bankruptcy protection to control their asbestos-related legal costs.

[formercia]

20. Halliburton is the primary entity

they hold the liability.

[Laelth]

21. I can't believe it.

No bailout for Halliburton (which bought several companies on the cheap that had outstanding asbestos claims against them)? What is the world coming to?

:shrug:

-Laelth

[annabanana]

28. And after that advertising blitz, too...

"The Asbestos Manufacturers Council" (or some such steaming load) has been advertising all week for this thing.

hee hee

Good money after bad, fellas..