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Superfund broke thanks to bankrupt polluters

Posted by Kate Sheppard at 10:54 PM on 03 May 2007

The Center for Public Integrity continues with their massive report on the state of Superfund with a new story today on the $700 million tab that bankrupt polluters have skipped out on.

The need for the the Super-Fund

The need for the super-fund is fading, this is a good thing and everyone should be proud that the country is cleaner and more responsible now than when the fund was started.

The problem the super-fund was to fix was as industrial sites closed though bankruptcy they left sites in very poor condition with no money left for clean up. Besides setting up the super-fund the government required industrials to provide environmental reserve funds with superior rights in bankruptcy so that there would be money to clean up sites after a bankruptcy.

As time moves on the better financial accountability has reduced the need for super-fund money.


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