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Mark Levin Attacks Bill O'Reilly for Supporting BP Escrow Fund

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KingKenrod6/21/2010 10:15:59 am PDT

re: #34 lawhawk

This isn’t “his” slush fund - and it isn’t the government that is going to be administering it.

BP is setting aside the $20 billion (which is going to be insufficient considering that the true costs for the oil spill will likely be 5x as much in direct and indirect costs from losses due to the spill) as compensation for those who have suffered losses.

The fund will be administered by Kenneth Feinberg - who has previously handled the 9/11 victim compensation fund, the Ground Zero workers comp fund, and the executive compensation pay issue.

He’s as fair as they come - and he is the 3d party administrator for the fund.

Obama does not have anything to do with the fund.

If anything, Obama is doing BP a favor by letting them set up this fund (rather than deal with thousands of individual lawsuits - this consolidates and should potentially streamline claims and distribution of funds). And BP is doing Obama a favor by letting it look like Obama is doing something tangible to deal with the oil spill mess and cleanup.

But as I have already said - it isn’t going to be enough, and the costs may well be far more than the $20 billion.

Does Obama have the authority to to shield BP from lawsuits?