Biden Linked to Asbestos Litigation
Monday, September 22nd, 2008Senator Joe Biden, vice-presidential nominee for the Democratic Party, allegedly has close ties to law firm Simmons Cooper, who specializes in asbestos litigation. Apparently Biden and his brother obtained financing from the law firm to purchase hedge funds totaling $1 million.
The funds, though, were subsequently retuned following the failure of the deal. However, contributions from the Illinois law firm have exceeded that of any other entity contributing to the Biden campaign. Furthermore, it is alleged that the law firm has benefited from the support of Senator Joe Biden in Congress.
Biden is said to have advocated for the right of asbestos victims to sue in court and is also a strong supporter of trial lawyers. Biden as well as Simmons Cooper oppose the proposed legislation that would set up a trust fund for asbestos litigants, arguing that the trust fund money may run out or lack the funds to pay adequate compensation to victims. Many individuals file asbestos lawsuits after developing mesothelioma cancer, a fatal disease that is only caused by previous asbestos exposure.
It is reported that Barrack Obama backed the Class Action Fairness Act of 2005, taking an opposing position to trial lawyers while Biden opposed and vetoed the bill. Some question whether these conflicting views will affect the 2008 Democratic campaign for the White House.
