You know, due to people inhaling day and night for two or three decades straight. Imagine that causing a new type of problem we've never seen before. Not sure to whom your "moronic" invective was directed, but since I started the asbestos talk ITT I'll assume it was me, so pay closer attention: mine wasn't an argument against not buying the house--read my posts, including the first one, and you'll see quite the contrary. People aren't readily dislodged of their fears, but it can be mitigated a bit with some knowledge.
Asbestos has long-chain fibers that the lungs can't expel readily, which was unknown at the time it was being mass-produced by factory workers. Decades later the problems manifested and they figured it out. It isn't a problem being in an environment with asbestos--it isn't radioactive. The problem arises if it becomes airborne. It is a perfectly acceptable remediation (and makes a house sellable) for one to simply put tape around pipes, for instance, that are insulated with asbestos in order to prevent the asbestos fibers from becoming airborne. You think the typical American knows this? I'll bet you had no clue that this is how it works, which would make you like 99% of other Americans. Consider yourself a better-educated Rutgers fan now and not a follower of the evening news and 1-800-Lawyers commercials.
Cause-and-effect is a chain of reasoning that is much more linear when you take the emotion out of it, and is therefore much more rational.