April 14, 2005

From last week's WSJ editorial ("Leahy's Legal ATM" - $), describing the consequences of the asbestos-bankruptcy train wreck (see Jul. 21 and Aug. 3, 2004):

"If nothing is done," explains one business source, "the plaintiffs lawyers will own the world's largest wall board company in USG, the world's largest insulation company in Owens Corning, the world's largest ceiling and floors company in Armstrong, and the world's largest roofing company in GAF. It's like a hostile takeover by the asbestos trial bar of the construction industry. And tort reform is not going to fix that problem because these cases are already in the system."