BP Agrees to Put $20 Billion in Escrow Account for People Affected by Oil Spill, White House Says

BP today pledged to put $20 billion in an escrow account to compensate people affected by the Gulf coast oil spill, a White House official told ABC News. The fund will be run by lawyer Kenneth Feinberg, who also oversees salary limits for companies getting federal bailout money. The announcement came after President Obama met with BP executives today to push them to take responsibility for the financial damage caused by the oil spill in the Gulf of Mexico, attempting to make good on his...Full Story
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