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Bush Administration Has `Concerns' With Asbestos Plan (Update1) Feb.
9 (Bloomberg) - The Bush administration supported a
proposed $140 billion fund for victims of asbestos exposure while
expressing ``serious concerns'' with unspecified provisions of
U.S.
Senate legislation to create the company-financed trust.
The administration said in a statement that the measure
lawmakers began debating this week should be amended before it
reaches President George W.
Bush to be signed into law.
While
Bush previously called for measures to end asbestos lawsuits
because they sap economic growth, the statement is the first time
the administration has endorsed the trust fund.
The plan, to be financed by companies that made or sold
products with asbestos and their insurers, would end suits that
have forced almost 80 companies into bankruptcy, includ...
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