The Fund will be financed through allocated mandatory and
guaranteed contributions of $90 billion from defendant participants
and $46 billion from insurer participants that have been exposed to
asbestos claims in the tort system. Although insurers and defendants
have specific aggregate sums earmarked towards the Fund, the
mechanics of how these amounts will be assessed towards each
Under the FAIR Act, the members of Congress propose that the “claimants would not have to prove that an injury resulted from the negligence or other
fault of any other person.”
* * * * * * * * * *
REMINDER: See EXHIBIT 3 — Certain corporations claiming bankruptcy are listed on Page 2 of the US House of Representatives Committee on the Judiciary letter that was distributed to the Government Accountability Office Comptroller General David Walker. The letter was distributed to those listed corporations. How many EEOICP claimants/survivors with the need to know are entitled to file asbestos related lawsuits who were/are potentially qualified to receive a “trust fund” award? It seems that the Federal Officials are concerned that the “trust funds” will be depleted.
QUESTION: Was the exclusion of the asbestos exposure consequences to thousands of atomic weapons plant workers caused by certain Officials’ need to protect their “special interest” affiliates?
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Introduction to Senate debate on “Fairness in Asbestos Injury Resolution Act of
2004,” April 22, 2004:
EXCERPTS: Senator Ted Kennedy (D-Mass) speaking: “Mr. President,
the real crisis which confronts us is not an asbestos litigation
crisis, it is an asbestos-induced disease crisis. Asbestos is the
most lethal substance ever widely used in the workplace.
Between 1940 and 1980, there were 27 1/2 million workers in
this country who were exposed to asbestos on the job and nearly
19 million of them had high levels of exposure over long periods
of time, and that exposure changed many of their lives.
Each year more than 10,000 of them die from lung cancer and
other diseases caused by asbestos. Each year, hundreds of