Feinberg ordered by Obama to get BP claims paid 'quickly'

[babylonsister]

This man was on MTP today-very impressive!


Feinberg ordered by Obama to get BP claims paid 'quickly'
By Molly K. Hooper - 06/20/10 04:30 PM ET


Ken Feinberg, newly tapped to oversee the oil spill compensation fund, said on Sunday that he’s under strict orders to “get these claims paid, get them paid quickly.”

snip//

“Now, I'm confident -- as with the 9/11 fund -- that if claimants enter this fund voluntarily they will be treated fairly. They're treated in a comprehensive way, they will be given emergency payments with no requirement in terms of waiving your right to sue. These emergency payments are without condition. And then I think will be able to treat everybody fairly,” Feinberg told host David Gregory.

The former prosecutor, who oversaw the compensation fund for victims of the September 11, 2001, terrorist attacks, was tapped last week by President Barack Obama and BP executives to serve a similar role as head of the BP oil spill victim compensation fund.

“I must make sure that this $20 billion fund provides for prompt payment, full compensation. It's an independent program. I'm not beholden to the administration or BP,” Feinberg explained of his new responsibilities administering the escrow account that BP executives agreed to set up while at a White House meeting on Wednesday.

more...

http://thehill.com/blogs/e2-wire/677-e2-wire/104367-feinberg-ordered-by-obama-to-get-bp-claims-paid-quickly

[Stardust]

1. K&R!

[Go2Peace]

2. Corporations simply *Never* give out cash without a purpose

There is another side of this that we cannot see and is cleverly avoided in the discussions here. I am glad that the President got this, because we have gotten very little from BP. But I am leary knowing that they are getting something for their money. The most likely thing is goodwill and the avoidence of an attempt to throw them in Jail. They *should* get jailtime for this. But as we know in our system that is rare. But certainly now it will be completely unlikely.

[vaberella]

8. There have been lawyers saying that there isn't any evidence to convict. n/t

[Jennicut]

3. Feinberg has a way of taking difficult parties and getting the job done.

I think he will get what he wants from them (or what Obama wants). He is the best guy you could put in this job.

[geek tragedy]

4. A bit of message confusion:

He's under strict orders but isn't beholden to the administration?

[Igel]

5. Exactly.

The maximum independence that we, as humans, can ever experience is in following orders from our superiors.

If you want real oppression, try making all the decisions on your own.

And, in order to make sure that every valid claim is paid, all claims will be paid without condition. Then they're sure to get all the valid ones paid. Of course, that says he has absolutely no fiduciary responsibility to make sure that the money goes towards the purpose it was put into escrow for.

Think of it as Maxwell's demons engaging in politics. Anything that's good, or hot, such as paying the poor, the sick, the injured, will be passed through from the BP to the administration side, showing the wonder of the warm and friendly administration. However, anything that's bad, or cold, such as trying to recover money from fraudulent or exaggerated claims will be kept on the BP side, or passed through to the BP side, showing the cold, heartlessness of corporatism. Since it's money wrested by our hero in one-on-one combat, the powerful president winning the prize by force majeure, it's no longer BP's money, so this is right.

[babylonsister]

6. I don't see that as confusing. He's been given the

responsibility by the admin to get this done but doesn't expect any interference from bp or the admin. They're not mutually exclusive. This guy will be making the decisions, and (especially) bp won't be able to second guess him.

[grantcart]

7. Well if it is comparable to the job he did on 9/11 they can give him general

instructions but not interfere with his independent case by case decisions.