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JPMorgan Chase Sells Insurance Units to Protective Life for $1.2 Billion
Dollar Rebounds From One-Week Low Against Yen on U.S.
Interest-Rate Gap
U.S.
Stock-Index Futures Are Little Changed; Exxon Drops, Pfizer Advances
Asbestos Fund Clears First U.S.
Senate Test, Faces New Hurdles Feb.
8 (Bloomberg) - A proposed $140 billion fund to help
asbestos victims and end lawsuits that have bankrupted almost 80
companies faces new obstacles after clearing its first hurdle in
the U.S.
Senate.
The Senate's 98-1 vote yesterday to permit consideration of
the plan marks the first time the legislation will undergo floor
debate since it was approved by the Judiciary Committee in 2003.
Democrats previously blocked floor debate, and senators of both
parties are poised to raise new complaints now.
One of those objections is a claim the plan violates budget
spending limits.
Under Senate rules, it would take 60 votes to
overcome any objection that the fund exceeds the budget cap.
``The bill before us is based on faulty and questionable
guesses, not estimates,''...
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