WASHINGTON (AP) -- Senior administration officials tell The Associated Press that BP has agreed to finance a $20 billion fund to pay the claims of people whose jobs and way of life have been damaged by the devastating Gulf Coast oil spill.
The independent fund will be led by lawyer Kenneth Feinberg, who oversaw payments to families of victims of the Sept. 11, 2001, terrorist attacks.
It wasn't a spectacular speech, but it seems to have begun to accomplish what it needed to accomplish.
Look, I know that many people are upset that various MSNBCC hosts criticized Obama's address so heavily - but we all have to admit this is good news. It accomplishes a large part of what Congress had been attempting to do for weeks with modifying the Oil Spill Liability Cap.
I think this shows, maybe, that BP is finally starting to get the message after having all the other heads of Big Oil do donuts over them with the bus in front of Capital Hill.
This country, big slow giant boat that it is, just might be turning a corner - and corporations might start to realize they have responsibilities to their customers and workers, not just their shareholders.
Maybe, just maybe, BP might finally begin to realize that you can't buy good publicity by trying to bribe the media, you do it be actually doing good things for the public, rather than nickle and dimeing them to death on damage claims.
We have to remember just what Obama is up against, as the Head of the Republican Party - Rush Limbaugh - complains that there isn't any FEDERAL MONEY included in the Escrow Account...
Meanwhile the Senate just today pretty much tabled the latest Unemployment Benefits Extention. (Why? He asks... silly rabbit because Governmentin' is Hard Work)
Score one for the O-Man, now we move toward getting some kind of serious Green Energy Program going to ensure this can never happen again.