[RWebb]

1970s-era approach??

not possible - CERCLA became law in 1980 - "Superfund" with some big amendments in 1986

if the perps are still around and not bankrupt, they pay first; next are others who were involved (maybe even banks); finally a govt. fund

the above depends on various contingencies and whether the site is placed on the National Priorities List

it is all expensive and complicated, both the cleanup and the law