Don't know if Matt covered this somewhere, but going to report anyway.
President Bush signed nto law the Protection of Lawful Commerce in Arms Act Oct. 26, 2005. This bill greatly decreases the liability of gun manufacturers, owners, and distributors from what has been the problem of lawsuits against them by victims of violent crimes. Only four Republicans opposed it: Michael Castle (RI), Mark Kirk (IL), Ron Paul (TX), and Chris Shays (CT). Lincoln Chaffee was the only Republican in the Senate to oppose the legislation.
Look, the fact remains--it is not Colt's fault that some shmuck stole a gun and killed with it. This law so much does not hinder the ability of victims to get damages as it does prevent the reckless lawsuits as the city of Cincinnati attempted to file against gunmakers, blaming them for crime. Guns don't kill, people kill. All you do by suing the manufacturer is take away someone else's job, drive the cost of guns up to where only the rich or the criminals can get them, and drive up the cost of liability insurance as a whole.
A great move by the President.