The $20 billion fund established to compensate victims of BP's Gulf oil spill has been criticized for processing claims too slowly. Kenneth Feinberg responded to those accusations Saturday, and said was implementing changes to make payments more quickly, and more generous.
BP and spill fund czar Kenneth Feinberg is taking a lot of flak for the details of the compensation program. One issue is the likelihood that people who take payments won't be able to sue later.
Kenneth Feinberg, who was jointly selected to be the new oil spill claims czar by the White House and BP, spent his first official day on the job Monday taking heat over the guidelines he has established for claims against the fund BP set up for victims of the Gulf of Mexico disaster.
A dedicated team of prosecutors will be going after large-scale foreign corruption, Attorney General Eric Holder announced Sunday. Main Justice reports this effort comes on top of the stepped-up prosecutions under the Foreign Corrupt Practices Act.
A new report from pay czar Kenneth Feinberg looks at compensation practices at 17 banks that received federal bailouts, and it's not a pretty picture: The banks made an estimated $1.6 billion in "ill-advised" payments.
BP shares climbed 7% at the end of trading Thursday and could be poised for a bull run.
The past few days have brought several new developments in the BP disaster. Anadarko Petroleum has turned on its former partner, claiming BP is completely responsible for the spill. And questions are emerging about just how much money it will take to clean the Gulf.
No one knows more about putting a price on human suffering than Kenneth R. Feinberg. The new claims administrator for the $20 billion BP oil spill compensation fund has spent 25 years finding a measure of justice for victims of disasters from Vietnam to 9/11.