BREAKING-BP agrees to put $20 billion in escrow for claims

[jenmito]

Breaking on MSNBC per the NY Times. And they're now discussing how the govt. can go back to BP for more if the $20 billion isn't enough.

ETA link: http://www.msnbc.msn.com/id/37725103/ns/disaster_in_the_gulf/


Update: Obama got BP to agree that $20 billion will NOT be the maximum if more is needed.

[Nicholas D Wolfwood]

Good start. Now add another zero, BP. (nt)

[vaberella]

41. They'll go bankrupt. Apparently they only have 100 billion to liquidate.

They have shareholders to pay. We can't risk bankrupting these guys unfortunately.

[phleshdef]

1. But according to Matthews, Pres. Obama had no plan on how to make that happen!

[jenmito]

8. Matthews sounds like a broken record: "He's acting like a Vatican Observer!" "He's

not in control!" "Why doesn't he get ALL the oil companies-not only BP-to help?" Blah blah blah.

[vaberella]

37. Hah! n/t

[dave29]

59. Chris, that tingling feeling you are having up your leg

is Howard Fineman's toupe

[phleshdef]

78. I always thought he was just peeing himself.

[tranche]

2. I'm outraged!

I'll think of why later.

[lamp_shade]

6. LOL

[NatBurner]

10. i laughed

like, literally

[Cha]

Use the ol' standby..

"NO LEADERSHIP" suck suck.

[jenmito]

15. Somehow...

I knew that's what I'd see when I clicked on your post. :D

[vaberella]

42. ...

:rofl: Me too!

[impik]

31. Heeeeeee.

[Kber]

69. snarf

[AspenRose]

93. .

:spray:

[liquid diamond]

110. That concisely describes some of the idiots here. Thanks for the

laugh.

[frazzled]

3. Breaking from the same MSNBC that last night

was having a case of the vapors over the president's not saying how he was going to be able to get BP to do this, and that he'd never get it done, and oh, why, why doesn't he show some leadership. Pfeh.

[vaberella]

43. I like when people underestimate the man. I'm over-stocked on crow. n/t

[AspenRose]

92. Now they can attempt to take credit for spurring the president into action

when he was planning to take action all along.

(Operative word "attempt.")

[Sebastian Doyle]

4. Apparently it's going to be administered by Kenneth Feinberg

Seems to be typical of his resume. http://en.wikipedia.org/wiki/Kenneth_Feinberg

[Ichingcarpenter]

7. Interesting resume

He worked for five years as an administrative assistant and chief of staff for U.S. Senator Ted Kennedy and as a prosecutor for the U.S. Attorney General.

[Jennicut]

13. Worked for the govt. to give compensation to the families of the 9/11 victims.

Appointed by Attorney General John Ashcroft to be Special Master of the fund, Feinberg worked for 33 months entirely pro bono. He developed the regulations governing the administration of the fund and administered all aspects of the program, including evaluating applications, determining appropriate compensation and disseminating awards.

Early in the process he was described as aloof and arrogant. Feinberg was subjected to some very public criticism at meetings, in the media and on Web sites.<2> "I underestimated the emotion of this at the beginning", Feinberg has said. "I didn't fully appreciate how soon this program had been established after 9/11, so there was a certain degree of unanticipated anger directed at me that I should have been more attuned to."<3>

It was up to Feinberg to make the decisions on how much each family of a 9/11 victim would receive. Feinberg had to estimate how much each victim would have earned in a full lifetime. If a family accepted the offer, it was not possible to appeal. Families unhappy with the offer were able to appeal in a nonadversarial, informal hearing to present their case however they wanted. Feinberg personally presided over more than 900 of the 1,600 hearings. At the end of the process, $7 billion was awarded to 97 percent of the families.

"It's a brutal, sort of cold, thing to do. Anybody who looks at this program and expects that by cutting a U.S. Treasury check, you are going to make 9/11 families happy, is vastly misunderstanding what's going on with this program," said Feinberg. "There is not one family member I've met who wouldn't gladly give back the check, or, in many cases, their own lives to have that loved one back. 'Happy' never enters into this equation."<3>

Feinberg was able to change the mind of some of his harshest critics. Charles Wolf, whose wife died in the north tower, renamed his highly critical Web site called "Fix the Fund" to "The Fund is Fixed!". At first he called Feinberg "patronizing, manipulative and at times, even cruel." Later he said, "To have one of your sharpest critics follow through on a promise and not only join the program he was criticizing, but promote it to his peers, says a lot about you and the way you have adjusted both the program and your attitude." "Today, I have complete faith in you."

http://en.wikipedia.org/wiki/Kenneth_Feinberg

[vaberella]

45. +Infinity. Thanks Jennicut! n/t

[flpoljunkie]

32. A damn good choice!

[vaberella]

44. I love the title..."Special Master"

[Jennicut]

5. Somebody here yesterday told me it would never happen.

Of course it was happening, why else have these idiots at the WH but to pressure them. Now, $20 billion is a start....

[jenmito]

12. There will always be naysayers...

and even those who refuse to deny the reality of what's being done. They'd rather complain endlessly regardless of the facts.

[kirby]

23. .

[Jennicut]

26. Thanks. Will change it.

[jenmito]

27. And they're working on how to get more if necessary. n/t

[vaberella]

47. Obama...I love him more and more. He gets things done.

Now I'll have to deal with Tweety, in the next few days, having an obama-gasm. Then he'll be back on his hateration.

[jenmito]

51. Yes, he does get things done...

despite the media. I think Matthews is having his teabagger special tonight-not sure he'll be discussing Obama on his show tonight.

[vaberella]

56. Might not...who knows he might not be able to have the show because he over ate crow. n/t

[impik]

9. Oh, that's rally bad news for...

well, everyone, but the people in the Gulf....

[jenmito]

14. Especially for Obama's critics...

they're having less and less to complain about.

[vaberella]

48. Not a single one of his critics have posted on this thread.

They're probably in search of an article to show the down-side to this.

[jenmito]

52. True...

although I was talking about his critics on tv. But the same goes for his critics here.

[asphalt.jungle]

62. since you asked for the downside, here it is

http://www.thepoliticalcarnival.net/2010/06/video-haley-barbour-escrow-account-will-make-bp-less-able-to-pay-us-what-they-owe-us/

Escrow account will make BP ‘less able to pay us what they owe us.’

and that's from that great progressive governor Haley Barbour and it was said on the fair and balance network, suck on that hard you Obama sheep.

Haley "I talk like I have rocks in my mouth" Barbour is a great progressive. So I dare you to find fault in him while you all are praising that corporatist Obama with his speechifying and that nonsense escrow which is like 20 bucks to BP. I'll be impressed when it's 200 billion.


On a serious note, I can see why this board has basically turned into the nonsense I just posted above, it's quite fun to post like that. Very therapeutic.

[tekisui]

98. What makes one 'his critic'?

Is it one that criticizes a certain percentage of Obama's policies?

If you criticize once are you a critic?

Or, is it just short hand for 'Obama hater'?

[Cha]

17. That's mainly who he was talking

to last night and every other American who actually cares about those People..not the hypercritical pundit heads who want to be coddled at every damn turn.

[vaberella]

58. Exactly. n/t

[FrenchieCat]

11. But what has he done lately?

[jenmito]

18. Nothing! This whole thing is about his arrogance!

How DARE he think he can lead the country!

[Nicholas D Wolfwood]

29. Well, 5 minutes have gone by and he hasn't yet created a single new planet.

Fucking slacker. Jesus would've given us a whole new solar system by now.

[dave29]

61. BREAKING: Obama creates Leptune

.

[Aramchek]

65. Breaking: Leptune home to Oil-Consuming race of creatures who eat spills for lunch

[Kind of Blue]

83. You guys are killing me.

Thanks for the laughs.

[Kind of Blue]

82. ...

:rofl: :rofl: :rofl: :rofl::rofl: :rofl: :rofl: :rofl:

[liquid diamond]

111. "He's all talk. He just gives pretty speeches."

:sarcasm:

[Teaser]

16. Only 20 Billion Dollars? It's a freakin' corportate giveaway.

Good job, O. Now just get me some carbon caps, and we're square.

[impik]

33. SELL OUT!!!!!!!!!!!!!!!

[vaberella]

50. Hahaha...It's like everyone of your posts has carbon caps.

When I write a letter in praise to the WH for this...I'll link him and let him know---Teaser says they want carbon caps (I agree with him/her), please deliver.

[Teaser]

60. yeah, it's almost like it's the issue I care about most

well, except for porn.

[jenmito]

19. For the most part, all the "regular" people I've seen interviewed about Obama's speech

LIKED it and were happy to hear what he said. And they'll like this $20 billion escrow, too.

[moondust]

20. Well done, Mr. President.

K/R

[goclark]

21. That deserves a...

:fistbump:

[jenmito]

24. I agree...

:fistbump:

[Aramchek]

22. but, but Obama made big fail, right? Obama made Big Fail!!!

:rofl:

I absolutely love threads like this.
Hater-free is the way to be!

[jenmito]

25. Yup! Not only didn't Obama "aim low," he didn't aim at ALL

according to those on MSNBC last night. I wonder what their criticism will be tonight!

[tridim]

30. Their criticism tonight should be..

Themselves.

[jenmito]

34. Yup, but don't count on it. nt

[Aramchek]

35. He's always one step ahead of these buffoons.

I knew it way back when he kicked the shit out of their "Super Tuesday determines the Nominee" theory.

The man is a strategist.

In the long run, he will always prevail over the reactionaries.

[jenmito]

40. I feel the same way...

as do the majority of "regular" people, I bet.

[tridim]

28. Suck on it pundits

All of you.

You were wrong, now admit it, apologize and pray to your corporate masters that your viewers forgive your ignorance.

[Phx_Dem]

38. They're as wrong now as they were announcing the "death of healthcare."

At some point, they should watch themselves on TV so they can see how idiotic their "always wrong" declarations sound.

[jenmito]

46. And after healthcare DID pass, they declared that Obama has already secured a place in

history as one of the most accomplished presidents, that he can no longer be compared to Jimmy Carter. But now they're back to the Jimmy Carter comparisons. :eyes:

[jenmito]

36. Many pundits were saying that what happens today in the meeting with BP will be even

more important than last night's speech. And I think he passed THIS test with flying colors, too.

[vaberella]

54. Agreed. n/t

[vaberella]

39. Obama is the man. What else are we to expect? n/t

[BeyondGeography]

49. If his speech sucked a little less it would have been $40 billion

[vaberella]

53. How do you know?! Plus you should read post 27.

Additionally----40 Billion+ could lead to it's bankruptcy and there are world wide economic problems to that. People seem to forget that BP is the employer to several thousand American employees---and that's speaking on America considering they're a world wide enterprise.

[BeyondGeography]

55. Joking

:hi:

[vaberella]

57. Ugh..you guys...I'm sarcasm illiterate!

:( Sorry BG. Ugh I never get when people do that...it goes over my head. Although I have the nasty habit of doing it and not using the :sarcasm: icon.

[Aramchek]

68. if he had warn a leather bomber jacket, it would have been 20 Brazilian

[PBS Poll-435]

63. A really good start. K&R nt

[jenmito]

64. They just agreed that this will NOT be the max. If more is needed, BP will give more. n/t

[Beacool]

66. That's great.

BP should be held responsible for the damage they have caused to people and the environment. But I'm more concerned right now about the cleanup and stopping the oil from gushing into the Gulf.

[Aramchek]

70. ha! even in your support there is an air of criticism.

you just couldn't help but let your bias in, could you?

[Beacool]

73. This is not about bias.

I'm tired of looking at pictures of oil slicked waves pounding the shore, dead marine life and birds covered in oil. I think that BP should pay for the damage done, but right now I'm much more concerned about the spill itself and the cleanup.

[Aramchek]

76. you can keep using that shield, but you and I both know what you're up to

everything with you has been about bias going on 3 years now.

[CakeGrrl]

105. Ding ding ding! Winnah. n/t

[Beacool]

109. And yours, and those who posted below, hasn't?????

;)

[jenmito]

74. But I'm sure if it had been President Hillary Clinton who got the same

open-ended $20 billion in escrow from BP, the poster would've said the same thing. :sarcasm:

[tridim]

85. Pumas always request two lumps.

Wham, wham.

[AspenRose]

94. ROFL

:spray: :rofl:

[tekisui]

99. You are one of the most biased posters on this board.

[Aramchek]

101. I support the President in his quest to help the American People

Those who see the Big Picture realize he is the best chance we have for any real progress in the near future and the long run. Facing all odds, he has already done more than many before him.

Those who have abandoned him and now attack at every opportunity are doing nothing to help get things done. And in the worst cases, they are even hurting efforts.

Obama makes his own decisions.
Constant barrages of "BETTER, FASTER, MY WAY, NOW!!!" don't change that.

All it does is turn everything into a fight.
And I guess the haters get to let off steam.

[tekisui]

102. You would get much further if you presented the benefits

of policies instead of berating those who ask questions. Supporting everything the President does, does not mean you you aren't a hater.

[Robbins]

67. So

This disproves all the talk Obama doesn't have a plan.Getting any corporation to give out 20 Billion In relief fund Is big news.Plus
a good choice to oversee the fund.

[phleshdef]

71. Why can't Obama SEAL THE DEAL with upper class, white, british CEOs?

[Thrill]

72. Thats a lot of dough

I was expecting something like 2 Bill

[Kber]

75. Yeah, but you forgot to mention the fine print from the NYTimes (buried on p2)

this...

"If the new range of flow estimates proves correct, and if BP is ultimately found guilty of gross negligence in actions it took that led to the Deepwater Horizon disaster, that would mean the company could be assessed fines of up to $258 million a day. Those fines could come on top of payments for cleanup costs and economic damage to Gulf Coast businesses."


and this...

"BP officials are adamant that the company should not be liable for the lost wages of oil workers laid off because of the six-month moratorium that the Obama administration imposed on deepwater offshore drilling after the Deepwater Horizon explosion and fire. But Interior Secretary Ken Salazar and other administration officials repeatedly have cited idled oil workers as among those who could press claims."


and lastly, this...

"To make sure that all claims are paid, the administration had demanded that BP set aside money to pay for future liabilities before paying dividends to shareholders, which now amount to about $10.5 billion a year."


http://www.nytimes.com/2010/06/17/us/politics/17obama.html?hp

[Aramchek]

77. hey look everyone, a naysayer that wasn't scared to post in this thread

nice try, but the fail is strong with this one.

[phleshdef]

79. Actually, none of that so called "fine print" sounds bad. I don't get it.

[Arkana]

87. Yeah, that actually sounded like a good thing.

Why is it being cast as something else?

[phleshdef]

89. I don't think he/she meant it that way. They bolded the good stuff.

[Kber]

104. You are correct - I think the news is actually very good even if my attemp at humor failed

I guess I underestimated the level of sensitivity around here.

Thanks for understanding!
;)

[phleshdef]

107. I picked up on it after another glance. I don't believe in sarcasm tags anyway.

Having to point out your own sarcasm ruins the fun in being sarcastic. If you can't interpret obvious sarcasm, tough.

[Kber]

103. Sorry - I forgot my sarcasm icon

actually, I think this is all good news.

[asphalt.jungle]

80. fine print?

what is the secret get off clause in what you posted. full of fail.

[phleshdef]

88. I don't think he/she meant "bad fine print".

[dionysus]

84. oh for crying out loud

[Kind of Blue]

81. Great news! Gobama!

:patriot: KnR

[Arkana]

86. Right--the best part is not that it's 20 billion, but that 20 billion is where it STARTS.

[jefferson_dem]

90. I thought Obama was a talker and not a doer.

You know... how some here say he's just a "song and dance man" with no real substance.

[Arkana]

91. MSNBC actually LIKES it this time.

Particularly the bit about no cap.

[tridim]

95. IT'S THE SAME THING!

His speech last night was about the events coming this morning, and further about the future. It all went whoosh over their fat, bulbous, pundit heads.

Gawd, the media are freaking idiots. There is really no other excuse, they're just dumb.

[boomerbust]

96. Just announced

No shareholder dividend

[jenmito]

100. Yup!

[tekisui]

97. Good, especially the part about getting to go back for more if needed.

[CakeGrrl]

106. k/r - the shouting heads whine, the President quietly gets something done.

Love it.

[Cha]

108. This is the Gold that

came from all their work on this and Yes, the Oval Office Speech which I loved.