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NEW YORK, Feb 15 (Reuters) - Investors in companies saddled with asbestos liability claims sold-off shares on Wednesday following another road-block in the on-again, off-again attempt by the U.S.
Congress to pass an asbestos compensation bill.
The U.S.
Senate voted on Tuesday night to block legislation that would create a $140 billion privately financed fund to compensate asbestos victims.
But on Wednesday, Sen.
Arlen Specter said the bill is "very much alive" and that Senate Majority leader Bill Frist told him there would be another vote on it - possibly after next week's recess.
Meanwhile, the stock market reacted negatively to the 'no' vote, which came when a group of Republicans, worried that taxpayers would ultimately have to pay some of the fund's co...
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