Posted on 12/08/2009 10:22:25 AM PST by kinsman redeemer
A top priority of DOI Secretary Ken Salazar was to settle the 13-year old Indian Trust lawsuit. That goal was just met and announced. The settlement says the Federal Government will:
o Establish a $1.4 billion fund to settle historic trust mismanagement and accounting claims.
o Create a $2 billion fund that DOI will use to buy back fractionated Indian lands to ensure the problems raised by Cobell do not occur again. To provide an additional incentive for account holders to sell their interests in fractionated lands, Interior will direct up to 5 percent of the value of fractionated land into a college scholarship fund of up to $60 million for American Indian students.
All of the funding for the proposed settlement will come from a Judgment Fund maintained by the U.S. Department of Justice.
So they’re establishing a trust fund to hold money to pay out to Indians/Native Americans to atone for mismanaging trust funds that were to be paid out to Indians/Native Americans? I don’t see ANY problem with that. /sarc mode off.
Cobell said she is hopeful that the settlement can "help break the cycle of poverty that has held too many families in poverty for generations."
I bet $4.4B that it won't.
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