***BP has tentatively agreed to put $20 billion in escrow acc't***

[dgibby]

MSNBC reporting that NYT says BP has tentatively agreed, with Ken Fineburg overseeing the account.

[Catshrink]

1. That's a small fraction of what the clean up will cost and the

business people and other Gulf residents will lose.

[dgibby]

6. It's a start.

I agree it's not even close to being enough, and like the Exxon Valdez, this will be tied up in the courts forever. Many of the victims will be long dead before there is any resolution,if there ever is.

I worry that BP will enventually be able to win in court because they will claim that the Govt condoned their operation, and even waived certain safety standards.

[lillypaddle]

9. I don't think this money is for the clean up

Isn't it for the people who have lost livlihoods?

[frazzled]

10. This is for claims, not the clean up

At least that is what is implied. They are already by law required to pay for the cleanup. This is about claims from local businesses and individuals who are losing money because of the spill.

[anarch]

2. well whoop-de-doo

I feel so much better now.

[MineralMan]

3. Good. It's not the whole amount that will be needed, but will

begin the process of their paying for the disaster they caused. $20 billion is a lot of money, and they might actually not be able to come up with more at this time. More will be needed, and a bankrupt business can't pay anything.

[mfcorey1]

4. The President had to wait until after this meeting to make an announcement.

In the meantime every body wanted to eat him alive because he couldn't make a statement before the meeting. Now we will hear the complaints that this is not enough for a start.

[frazzled]

5. Oh, but

what about the hand wringing last night amongst the punditry who were wailing about the president not saying HOW he was going to get BP to do this, and that he could never get BP to do this?

Good god, I'm surprised these people get paid salaries.

[malaise]

7. Gobama!

Kay Bailey Hutchison was lying through her ReTHUGmouth.

[Botany]

8. So Obama got done what he wanted to get done?

:applause:

[Bonhomme Richard]

11. Right Wing: Obama extorts 20 Billion from BP to fund his...........

left wing socialist, communist, nazi, (fill in the blank), army to take over the United States of America in order to ensure that we can't take our country back.
I can see the emails already.
Edit...This was Obama's plan all along and that is why he sabotaged the oil rig.

[Are_grits_groceries]

12. Its preliminary terms would give BP several years to deposit the full amount into the fund

The agreement was not final and was still being negotiated when President Obama and his top advisers met this morning with BP’s top executives and lawyers. Its preliminary terms would give BP several years to deposit the full amount into the fund so it could better manage cash flow, maintain its financial viability and not scare off investors.
http://www.nytimes.com/2010/06/17/us/politics/17obama.html?hp

fine print...

[Scurrilous]

13. K & R

:thumbsup:

[blindpig]

14. Promises, promises.....

Talk is cheap, does anybody trust these assholes? PR and positioning.

[uponit7771]

15. NOT ENOUGH!! Obama didn't save Bambi!!! /sarcasm

[chill_wind]

16. This is an encouraging move and big win by Pres Obama-

and a hopeful start for the suffering and dislocated.

And no cap. On this, he did good. If we can hold the line and BP doesn't find a way to wiggle away, very good.