George Voinovich: “I preface my remarks by saying my thoughts are with the victims of asbestos exposure, those families that have lost…”

“I preface my remarks by saying my thoughts are with the victims of asbestos exposure, those families that have lost loved ones, and those that have to live with the debilitating illness caused by asbestos. They are at the forefront of my mind and in my heart as I discuss this issue of asbestos liability. I want to be sure the legislation we pass today will ensure that those truly sick individuals are allowed fair and just compensation. Without the passage of this legislation, they will not be compensated. As hundreds of companies will cascade into bankruptcy, we will lose thousands of good-paying jobs and see the pensions of thousands of retirees evaporate. Most people would agree that the issue of asbestos litigation and its aftermath is presenting a crisis in our country. With roughly 70 companies already in bankruptcy and a slew of bankruptcies soon to follow, the U.S. Supreme Court had it right when they called this an elephantine mess. People need to understand this mess has far-reaching effects and ripples and they are being felt way beyond corporate boardrooms. They are being felt intensely by middle America, people from States such as Ohio, in the form of job loss. We have lost over 2.7 million manufacturing jobs in the United States.”