EXCLUSIVE: President Obama to demand third-party panel for BP payouts

politico ^ | 6/13/10 | MIKE ALLEN

[Nachum]

President Barack Obama plans to use a meeting with BP executives this week to demand that they create and fund an escrow account and accept an independent panel to handle damage claims by individuals and businesses hurt by the Gulf disaster, a White House official told POLITICO. Obama wants BP to set aside funds to pay damage claims, to be “paid out under fair, efficient, and transparent procedures administered by an independent third-party panel established just for this purpose,” the official said. The announcement is the latest effort by the White House to be sure BP, not taxpayers,

[Sacajaweau]

I don't understand the whole scenario on the part of the USA...I believe BP is doing what it can...and the USA is doing zip to assist them.

Moratorium on drilling?? Just plain ignorant.

[mewzilla]

That’s what I think. Would be lovely to see BP stand firm against His Littleness.

This is the same pair that sprang the Lockerbie bomber.

I don't see them turning on each other any time soon.

[Matchett-PI]

"Wow, now that's passing the bucks"

In more ways than one:

HERE

[Whenifhow]

http://astuteblogger.blogspot.com/2010/06/off-shore-oil-drilling-obama-soros.html

[rodguy911]

Thanks this is awesome stuff.

[PubliusMM]

“under fair, efficient, and transparent procedures administered by an independent third-party”

Uh...you first, 0bozo... You can’t even spell transparency, you ignorant, illegal gasbag.

[ASOC]

What a novel way to:
Loot a multinational corporation
Ensure your lackeys “get theirs” (Unions as well)
Skim billions for whatever reason you want

and finally
Ensure the real people who lost their livelihood get screwed by a tidal wave of fraudulent claims. And as in the case of the Exxon Valdez, count on an army of lawyers descending as a plague of locusts over this whole mess.

[billhilly]

I hope BP has more guts than GM and tells him where to stick it.

[billhilly]

“The whole economy is based on the tourism market, and when it goes away, someone has to compensate.”

This whole mentality of no consequences, regardless of the issue, has made us the biggest crybaby nation rather than the strongest. Who the hell pays for volcano eruptions?

[az_gila]

“The whole economy is based on the tourism market, and when it goes away, someone has to compensate.”

This whole mentality of no consequences, regardless of the issue, has made us the biggest crybaby nation rather than the strongest. Who the hell pays for volcano eruptions?

---

The same people who pay for hurricanes - us!

[gloryblaze]

Surely BP has liability insurance through Lloyds of London, or some such, with rates amd coverage based on rules and caps in place at the time of policy issue.