Comment

Angle: BP's $20B Escrow Fund a 'Slush Fund'

55
Spare O'Lake7/08/2010 11:28:18 am PDT

re: #40 reine.de.tout

The $20 Billion will not be nearly enough, nor the $100 million that BP is disbursing.

But discussions about which party was more “to blame” are silly at this point, and they are distracting from the current issues that need to be dealt with, IMO, and I have been very very careful to try to keep MY focus on the issues, not this or that political party or mind-set.

If we want to get into a “blame” game, there’s plenty to go around. I suggest it’s not a productive conversation at this point, given which party is currently in control and was when these exceptions were issued.

The $20 billion will probably turn out to be a bargain for BP if it represents a firm and binding cap on liability. Having said that, it’s at least 26 times better than the previous $75 million cap, if the $20 billion is in fact a done deal.
Has the money actually been secured yet?